Salisbury Bancorp, Inc. (NASDAQ:SAL) Plans Dividend Increase – $0.30 Per Share

Salisbury Bancorp, Inc. (NASDAQ:SAL) declared a quarterly dividend on Thursday, April 22nd, Wall Street Journal reports. Shareholders of record on Friday, May 14th will be given a dividend of 0.30 per share by the bank on Friday, May 28th. This represents a $1.20 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, May 13th. This is an increase from Salisbury Bancorp’s previous quarterly dividend of $0.29.

Salisbury Bancorp has increased its dividend payment by 3.6% over the last three years and has increased its dividend annually for the last 1 consecutive years. Salisbury Bancorp has a dividend payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Salisbury Bancorp to earn $3.76 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 31.9%.

NASDAQ:SAL opened at $45.28 on Wednesday. Salisbury Bancorp has a 12 month low of $30.32 and a 12 month high of $52.33. The firm has a fifty day simple moving average of $44.40 and a 200-day simple moving average of $40.62. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $128.82 million, a P/E ratio of 10.60 and a beta of 0.81.

Salisbury Bancorp (NASDAQ:SAL) last posted its earnings results on Tuesday, April 20th. The bank reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Salisbury Bancorp had a net margin of 22.35% and a return on equity of 10.19%. Equities analysts forecast that Salisbury Bancorp will post 4.42 EPS for the current year.

Several research analysts have issued reports on SAL shares. Zacks Investment Research raised shares of Salisbury Bancorp from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Friday, April 23rd. DA Davidson upgraded shares of Salisbury Bancorp from a “neutral” rating to a “buy” rating in a research report on Monday, May 3rd.

About Salisbury Bancorp

Salisbury Bancorp, Inc operates as the bank holding company for Salisbury Bank and Trust Company that provides commercial banking, consumer financing, retail banking, and trust and wealth advisory services. It offers various retail and commercial deposit products. The company also provides loans, such as residential and commercial real estate loans; construction loans; commercial loans; working capital loans; equipment loans; and consumer loans, including home equity loans and lines of credit, collateral loans, and auto and personal installment loans.

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Dividend History for Salisbury Bancorp (NASDAQ:SAL)

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