MUNSTER – The NorthWest Indiana Bancorp, the holding company for Peoples Bank, has announced that its board of directors has declared a 4 cent per share increase in its quarterly cash dividend.
The Bancorp’s new dividend of 19 cents represents a 26.7 percent increase over the previous dividend of 15 cents a share. It will be paid on July 6 to shareholders of record as of June 29.
“Since the beginning of the Great Recession, Peoples Bank has been focused on building our capital position, strengthening our balance sheet and growing earnings. As the tide begins to turn, our board of directors is please to reward our shareholders for their continued commitment to the bank during these turbulent times by increasing our quarterly dividend,” said David A. Bochnowski, chairman and CEO.