Northeast Indiana Bancorp announces dividends

Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, has announced that the corporation will pay a cash dividend of $0.30 per common share. The dividend will be payable on May 26, 2022 to shareholders of record on May 12, 2022.

Northeast Indiana Bancorp, Inc. held its twenty-seventh annual shareholders’ meeting on April 26, 2022. The shareholders elected Stephen E. Zahn and Christopher D. Cook as directors of the company for terms to expire in 2025. The shareholders approved the Northeast Indiana Bancorp, Inc. 2022 Equity Incentive Plan.

The book value of NIDB’s stock was $37.60 per common share as of March 31, 2022. At the close of business on April 25, 2022, the stock price was $46.40 per common share and the number of outstanding shares was 1,205,435. The annualized dividend yield at the current stock price is 2.6%.