Northrim BanCorp, Inc. (NRIM) Rewards Shareholders with Fresh $0.64 Dividend Payout

On May 23, Northrim BanCorp, Inc. (NASDAQ:NRIM) declared a quarterly dividend of $0.64 per share, which was in line with its previous dividend.

Northrim BanCorp, Inc. (NASDAQ:NRIM) is a bank holding company based in Alaska that offers a wide range of financial services, including checking and savings accounts, loans, mortgages, credit cards, investment options, treasury management, and online banking.

The company is a strong dividend payer, having raised its payouts for 15 consecutive years. Mike Huston, President and CEO, made the following statement regarding the recent dividend:

“We are pleased to announce a quarterly dividend of $0.64 per share, as we continue to provide returns to our shareholders.”

Since 1995, Northrim BanCorp, Inc. (NASDAQ:NRIM) has consistently paid dividends to its shareholders. While it did reduce payouts during the 2008 financial crisis, the company has steadily increased its annual dividend over time, from $0.0909 in 1995 to $2.46 by 2024.

As of May 23, NRIM has a dividend yield of 2.90%, and the stock will trade ex-dividend on June 5.

While we acknowledge the potential of NRIM as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than NRIM but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the dirt cheap dividend stock.

READ MORE: 10 Unstoppable Dividend Stocks to Buy Now and 25 High Dividend Stocks Being Targeted By Short Sellers

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