Sept 16 - Lewis J. Critelli, president and CEO of Norwood Financial Corp. (Nasdaq: NWFL) and its subsidiary Wayne Bank, Honesdale, Pa., has announced that the board of directors has declared a 29 cents per share cash dividend payable Nov. 1, 2013, to shareholders of record as of Oct. 15, 2013. The 29 cents per share represents a 7.4 percent increase over the cash dividend declared in the third quarter of last year, after giving retroactive effect to the 10 percent stock dividend declared in the first quarter of 2013.
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 a solid performance while operating in a very challenging economic environment."
Norwood Financial Corp., through its subsidiary, Wayne Bank operates 16 offices in Northeastern Pennsylvania. As of June 30, 2013, Norwood had total assets of $697.6 million, loans outstanding of $480.7 million, total deposits of $550.2 million and total capital of $90.5 million. The company's stock is traded on the Nasdaq Global Market under the symbol "NWFL."