June 20 - Lewis J. Critelli, president and CEO of Norwood Financial Corp. (Nasdaq: NWFL) and its subsidiary Wayne Bank announced that the board of directors declared a 29 cents per share cash dividend payable Aug. 1, 2013, to shareholders of record as of July 15, 2013. The 29 cents per share represents a 7.4 percent increase over the cash dividend declared in the second quarter of last year after giving retroactive effect to the 10 percent stock dividend declared during the first quarter of this year.
Critelli said, "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 March 31, 2013, Norwood had total assets of $680.8 million, loans outstanding of $478.7 million, total deposits of $535.6 million and total capital of $92.9 million. The company's stock is traded on the Nasdaq Global Market under the symbol "NWFL."