WARREN — Northwest Bancshares Inc. announced net income for the quarter ending Sept. 30, 2021 of $35.1 million, or $0.27 per diluted share.
This represents a decrease of $3 million, or 7.9%, compared to the same quarter last year, when net income was $38.1 million, or $0.30 per diluted share.
The annualized returns on average shareholders’ equity and average assets for the quarter ending Sept. 30, 2021 were 8.86% and 0.97% compared to 9.82% and 1.09% for the same quarter last year.
The Company also announced that its Board of Directors declared a quarterly cash dividend of 20 cents per share payable on Nov. 15, 2021 to shareholders of record as of Nov. 5, 2021. This is the 108th consecutive quarter in which the Company has paid a cash dividend. Based on the market value of the Company’s common stock as of Sept. 30, 2021, this represents an annualized dividend yield of approximately 6%.
