HUNTINGTON, Ind., Oct. 30, 2013 /PRNewswire/ -- The Board of
Directors of Northeast Indiana Bancorp, Inc., (OTCQB: NIDB),
the parent company of First Federal Savings Bank, is proud to
announce the Corporation has increased the cash dividend paid to
shareholders for the 19th year in row.
The cash dividend of $0.195 per
common share represents a 2.6% increase over the Company's previous
quarterly dividend. President and CEO Michael S. Zahn stated, "The Company continues
to perform at a very high level as evidenced by $2.22 earnings per common share over the past
four quarters. The Board of Directors feels a strong cash
dividend coupled with our share repurchase program provides good
value to our shareholders." The dividend will be payable on
November 26, 2013 to shareholders of
record on November 12, 2013.
This makes an annualized dividend yield of 3.7% based on a closing
price of $21.05 per common share,
which was the last reported trade on October
29, 2013.
The book value of NIDB's stock was $22.42 per common share as of September 30, 2013 with 1,231,946 shares
outstanding. Northeast Indiana Bancorp, Inc. is
headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers
a full array of banking and financial brokerage services to its
customers through its main office in Huntington and five full-service Indiana offices in Huntington (2), Warsaw and Fort
Wayne(2). The Company is traded on the OTC Markets
Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under
the symbol "NIDB". Our web site address is
www.firstfedindiana.com.
SOURCE Northeast Indiana Bancorp, Inc.