COLUMBUS, Ohio — Northwest Bancshares Inc. announced net income for the quarter ended March 31, 2022 of $28.3 million, or $0.22 per diluted share. This represents a decrease of $12.0 million, or 29.7%, compared to the same quarter last year, when net income was $40.2 million, or $0.32 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended March 31, 2022 were 7.17% and 0.80% compared to 10.61% and 1.17% for the same quarter last year.

The company also announced that its board of directors declared a quarterly cash dividend of $0.20 per share payable on May 16, 2022 to shareholders of record as of May 5, 2022. This is the 110th consecutive quarter in which the company has paid a cash dividend. Based on the market value of the company’s common stock as of March 31, 2022, this represents an annualized dividend yield of approximately 5.9%.