HUNTINGTON, Ind., Nov. 23, 2016 /PRNewswire/ -- Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, is proud to announce that its Board of Directors has declared a special cash dividend of $0.50 per share on the Company's common stock. The record date will be December 6, 2016 and the payment date will be December 20, 2016.
Commenting on the announcement, President and CEO Michael S. Zahn stated, "We are pleased to reward our shareholders with a special dividend. Our earnings and capital levels remain strong which allows us to return a higher level of our profits to our owners."
The book value of NIDB's stock was $28.70 per common share as of October 31, 2016 with 1,207,379 shares outstanding. Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The Company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and five full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne(2). The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol "NIDB". Our web site address is www.firstfedindiana.bank.
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SOURCE Northeast Indiana Bancorp, Inc.