Bank of N.T. Butterfield & Son Limited (The) Announces Quarterly Dividend of $0.50 (NYSE:NTB)

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) announced a quarterly dividend on Monday, February 9th. Investors of record on Monday, February 23rd will be paid a dividend of 0.50 per share by the bank on Monday, March 9th. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, February 23rd.

Bank of N.T. Butterfield & Son has increased its dividend by an average of 0.3%per year over the last three years. Bank of N.T. Butterfield & Son has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank of N.T. Butterfield & Son to earn $4.85 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.2%.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $54.06 on Tuesday. The company’s fifty day moving average price is $50.67 and its 200-day moving average price is $46.66. Bank of N.T. Butterfield & Son has a 12 month low of $34.85 and a 12 month high of $54.00.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Monday, February 9th. The bank reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. Bank of N.T. Butterfield & Son had a net margin of 28.27% and a return on equity of 21.94%. The company had revenue of $158.90 million during the quarter, compared to analysts’ expectations of $153.49 million. During the same period last year, the company posted $1.34 EPS. As a group, research analysts expect that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son declared that its Board of Directors has authorized a share buyback plan on Monday, December 8th that allows the company to buyback $140.00 million in shares. This buyback authorization allows the bank to buy up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

About Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.