HONESDALE, Pa., Sept. 16, 2022 (GLOBE NEWSWIRE) — James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market – NWFL) and its subsidiary Wayne Bank announced that the Board of Directors has declared a cash dividend of $0.28 per share, payable on November 1, 2022 to shareholders of record on October 14, 2022. The $0.28 per share represents the dividend per share declared in the previous quarter and represents an increase of 7.7% over the cash dividend declared in Q3 2021.

Mr. Donnelly commented, “The Board is very pleased to be able to pay this quarterly dividend to our shareholders. It reflects the company’s financial strength and strong capitalization, which contributed to our solid performance.”

Norwood Financial Corp, through its Wayne Bank subsidiary, operates fourteen offices in northeastern Pennsylvania and fifteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. As of June 30, 2022, Norwood had total assets of $2.066 billion, outstanding debt of $1.404 billion, total deposits of $1.800 billion and total capital of $173.8 million. The company’s shares are traded on the Nasdaq Global Market under the symbol “NWFL”.

Forward-Looking Statements.
The foregoing material may contain forward-looking statements. We caution that such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated and readers should not place undue reliance on forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to pay or increase cash dividends in the future, the Company’s continued financial strength, solid performance and strong capital position, changes in federal and state laws, absolute changes and relative interest rate levels , the potential adverse impact of the COVID-19 pandemic on Norwood’s financial condition and…