Northrim BanCorp Boosts Quarterly Cash Dividend

(RTTNews) - Northrim BanCorp, Inc. (NRIM) said it has increased its quarterly cash dividend by 6% to $0.18 per share from the $0.17 per share paid last quarter. The dividend will be paid September 19, 2014 to shareholders of record as of the close of business on September 11, 2014.

With the successful acquisition of Alaska Pacific Bancorp and the continued profitability of our financial businesses in Alaska, we are able to increase our dividend payments to our shareholders this quarter," said Marc Langland, Northrim's Chairman, President and Chief Executive Officer. At the stock price of $24.50 per share at the close of the market on July 31, 2014, the current dividend equates to a yield of 2.94% on an annualized basis.