COLUMBUS, Ohio — Northwest Bancshares Inc., announced net income for the quarter ended Dec. 31, 2022 of $34.6 million, or $0.27 per diluted share. This represents an increase of $4.6 million, or 15.3%, compared to the same quarter last year, when net income was $30.1 million, or $0.24 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended Dec. 31, 2022 were 9.38% and 0.98% compared to 7.65% and 0.82% for the quarter ended Dec. 31, 2021.
The company also announced that its Board of Directors declared a quarterly cash dividend of $0.20 per share payable on Feb. 14, 2023 to shareholders of record as of Feb. 2, 2023. This is the 113th consecutive quarter in which the ompany has paid a cash dividend. Based on the market value of the company’s common stock as of December 31, 2022, this represents an annualized dividend yield of approximately 5.7%.
