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OFFON

NORWOOD FINANCIAL CORP.

(NWFL)
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NORWOOD FINANCIAL : ANNOUNCES CASH DIVIDEND (Form 8-K)

06/11/2021 | 09:10am EDT

NORWOOD FINANCIAL CORP

ANNOUNCES CASH DIVIDEND

HONESDALE, PENNSYLVANIA - JUNE 11, 2021

Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank announced that the Board of Directors declared a $.26 per share cash dividend, which is payable August 2, 2021 to shareholders of record as of July 15, 2021. The $.26 per share equals the per share dividend declared in the prior quarter and represents a 4.0% increase over the cash dividend declared in the second quarter of 2020.

Mr. Critelli commented, 'The Board is extremely pleased to provide our shareholders with this quarterly dividend. It reflects the Company's financial strength and strong capital position which has contributed to our solid performance.'

Norwood Financial Corp, through its subsidiary, Wayne Bank operates fourteen offices in Northeastern Pennsylvania and sixteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. As of March 31, 2021, Norwood had total assets of $2.010 billion, loans outstanding of $1.422 billion, total deposits of $1.685 billion and total capital of $195.1 million. The Company's stock is traded on the Nasdaq Global Market under the symbol 'NWFL'.

Forward-Looking Statements.

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to a number of risks and uncertainties which may cause actual results to differ materially from those currently anticipated, and therefore readers should not place undue reliance on any forward looking statements. Those risks and uncertainties include, but are not limited to, our ability to pay or increase cash dividends in the future, the continued financial strength, solid performance and strong capital position of the Company, changes in federal and state laws, changes in the absolute and relative levels of interest rates, the potential adverse impact the COVID-19 pandemic may have on Norwood's financial condition and results of operations, the ability to control costs and expenses, demand for real estate, costs associated with cybercrime, general economic conditions and the effectiveness of governmental responses thereto. Norwood Financial Corp does not undertake and specifically disclaims any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

CONTACT: William Lance
Executive Vice President and Chief Financial Officer
NORWOOD FINANCIAL CORP
(570) 253-8505
www.waynebank.com

Disclaimer

Norwood Financial Corporation published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 13:09:07 UTC.


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Financials (USD)
Sales 2020 52,8 M - -
Net income 2020 15,1 M - -
Net cash 2020 0,95 M - -
P/E ratio 2020 12,5x
Yield 2020 3,86%
Capitalization 211 M 211 M -
EV / Sales 2019 7,98x
EV / Sales 2020 4,03x
Nbr of Employees 261
Free-Float 91,6%
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Managers and Directors
NameTitle
Lewis J. Critelli President, Chief Executive Officer & Director
William S. Lance CFO, Secretary & Investor Relations Contact
William W. Davis Chairman
Robert J. Mancuso Chief Operating Officer & Executive Vice President
Kenneth A. Phillips Independent Director