NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) recently announced that its board of directors has approved a first-quarter cash dividend of 27 cents a share.
The dividend will be paid on March 15, to shareholders of record as of March 1. At NBT’s current stock price, the dividend yields about 3.05 percent on an annual basis.
NBT Bancorp’s board also approved an increase to the total number of shares authorized under the banking company’s current stock-repurchase program to 2 million shares from the previous 1 million shares. NBT said it has so far bought back 263,507 shares under the plan. The stock-repurchase plan expires on Dec. 31, 2021.
NBT Bancorp is a financial holding company based in Norwich, with total assets of $10.9 billion as of Dec. 31. The company primarily operates through NBT Bank, N.A., a full-service community bank and via two financial-services companies. NBT Bank has 141 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, and Maine, and is currently entering Connecticut. EPIC Retirement Plan Services, based in Rochester, is a full-service 401(k) plan recordkeeping firm. NBT Insurance Agency, LLC, based in Norwich, is a full-service insurance agency.