COLUMBUS, Ohio — Northwest Bancshares, Inc., announced net income for the quarter ended Dec. 31, 2023 of $29.0 million, or $0.23 per diluted share. This represents a decrease of $5.6 million, or 16.3%, compared to the same quarter last year, when net income was $34.6 million, or $0.27 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended Dec. 31, 2023 were 7.64% and 0.80% compared to 9.38% and 0.98% 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 Feb. 14, 2024 to shareholders of record as of Feb. 2, 2024. This is the 117th consecutive quarter in which the company has paid a cash dividend. Based on the market value of the company’s common stock as of Dec. 31, 2023, this represents an annualized dividend yield of approximately 6.4%.
