Riverview Bancorp Inc (RVSB, Financial), Camden National Corp (CAC, Financial) and Mid Penn Bancorp Inc (MPB, Financial) announced dividends on Tuesday, Dec. 22.
These companies appeal to dividend investors because they have been making distributions already for many years, outperforming the S&P 500 in terms of a higher three-year dividend per share growth rate. The benchmark index for the U.S. market has grown its real 12-month dividends per share by a compound annual growth rate (CAGR) of 5% over the past three years.
Riverview Bancorp Inc
The Vancouver, Washington-based regional bank announced that on Jan. 18, 2021, it will pay a quarterly cash dividend of 5 cents per common share. The distribution will be in line with the previous one. In order to benefit, shareholders must be on the company's books not later than Jan. 5. The ex-dividend date is scheduled for Jan. 4.
Based on Tuesday's closing price of $5.13 per share, the quarterly dividend produces a forward dividend yield of 3.9%.
Riverview has been distributing dividends for about 15 years, increasing them by a CAGR of approximately 41.5% over the last three years.
The payment of the quarterly dividend is sustained thanks to approximately $238.26 million in cash on hand and $11.22 million in trailing 12-month operating cash flow as of Sept. 30.
GuruFocus has assigned a score of 4 out of 10 to the financial strength of the company and of 5 out of 10 to its profitability.
The share price has fallen by 37.36% over the past year for a 52-week range of $3.77 to $8.55.
The market capitalization is $114.59 million and the price-earnings ratio is 11.66 compared to the industry median of 11.31.
On Wall Street, the stock has one recommendation rating of overweight with a price target of $5.50 per share.
Camden National Corp
Based in Camden, Maine, the regional bank announced that on Jan. 29, 2021, it will pay a 33 cents per common share quarterly cash dividend to shareholders of record as of Jan. 15. The ex-dividend date is scheduled for Jan. 14. The payment will be in line with the previous distribution.
Based on Tuesday's closing price of $34.77 per share, the quarterly dividend generates a forward yield of 3.80%.
Camden has paid dividends for approximately 24 years and increased them by a CAGR of 14.5% over the last three years.
The company sustains the quarterly dividend using $393.61 million available in cash on hand and equivalents plus $24.1 million from operating cash flows over the prior 12 months.
GuruFocus has assigned a score of 4 out of 10 to the company's financial strength and of 5 out of 10 to its profitability.
The share price has fallen by 24.74% over the past year, determining a 52-week range of $25.74 to $48.48.
The market capitalization is $518.65 million and the price-earnings ratio is 9.35 compared to the industry median of 11.31.
On Wall Street, the stock has a median recommendation rating of hold with an average price target of $37 per share.
Mid Penn Bancorp Inc
The Millersburg, Pennsylvania-based regional bank announced that on Jan. 25, 2021, it will pay an annual cash dividend of 5 cents per share to shareholders of record as of Jan. 11. The ex-dividend date is scheduled for Jan. 8. Based on Tuesday's closing price of $24.20 per share, the annual cash dividend produces a forward dividend yield of 0.21%.
Mid Penn has distributed dividends for nearly 30 years and increased them by a CAGR of approximately 13.3% over the past three years.
The company funds the payment of the annual dividend with cash on hand of about $195.57 million as of Sept. 30.
GuruFocus has assigned a score of 3 out of 10 to the company's financial strength and of 5 out of 10 to its profitability.
The share price has fallen by 14.92% over the past year for a 52-week range of $15.50 to $29.88.
The market capitalization is $203.66 million and the price-earnings ratio is 9.45 compared to the industry median of 11.31.
On Wall Street, the stock has a median recommendation rating of hold with an average target price of $24.50 per share.
Disclosure: I have no positions in any securities mentioned.
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