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

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Monday, February 9th. Stockholders of record on Monday, February 23rd will be given a dividend of 0.50 per share by the bank on Monday, March 9th. This represents a c) annualized dividend and a dividend 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% indicating that its dividend is sufficiently covered by earnings. 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 Up 1.2%

NTB opened at $54.06 on Tuesday. The firm’s fifty day simple moving average is $50.67 and its 200 day simple moving average 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 announced its earnings results on Monday, February 9th. The bank reported $1.54 EPS for the quarter, topping the consensus estimate of $1.46 by $0.08. The business had revenue of $158.90 million during the quarter, compared to analysts’ expectations of $153.49 million. Bank of N.T. Butterfield & Son had a net margin of 28.27% and a return on equity of 21.94%. During the same quarter in the prior year, the company posted $1.34 earnings per share. On average, research analysts predict 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 has approved a share repurchase program on Monday, December 8th that allows the company to buyback $140.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication 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.