Thursday, October 19th, 2017

Northeast Indiana Bancorp increases dividend

Posted: Friday, October 31, 2014

The Board of Directors of Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, is proud to announce the corporation has increased the cash dividend paid to shareholders for the 20th year in row.

The cash dividend of $0.20 per common share represents a 2.6% increase over the company’s previous quarterly dividend. President and CEO Michael S. Zahn stated, “With our continued strong financial performance, I’m pleased to announce that the board of directors has elected to reward our shareholders with an increase in the cash dividend. This is the 20th consecutive year we’ve been able to increase the cash dividend to our owners.” The dividend will be payable on November 25, 2014 to shareholders of record on November 11, 2014. This makes an annualized dividend yield of 3.1% based on a closing price of $26.00 per common share, which was the last reported trade on October 28, 2014.

The book value of NIDB’s stock was $24.66 per common share as of September 30, 2014 with 1,199,879 shares outstanding. Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and five full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne(2). The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol "NIDB". Our web site address is www.firstfedindiana.com.