MELVILLE, N.Y. - The First of Long (NASDAQ:FLIC) Island Corporation, parent company of The First National Bank of Long Island, has announced the issuance of a fourth quarter cash dividend of $0.21 per share, representing an attractive 6.87% yield. According to InvestingPro data, the company has maintained dividend payments for 41 consecutive years. This dividend is scheduled to be paid out on January 9, 2025, to shareholders who are on record as of December 31, 2024.
The First National Bank of Long Island, operating under the brand First National Bank LI, serves both business and consumer clients in the Long Island and New York City areas. With a market capitalization of $275.48 million, the bank offers a variety of services including lending, deposit accounts, investment options, and digital banking products. It emphasizes a customer-centric approach, aiming to provide exceptional service to small and middle-market businesses, professional service firms, non-profit organizations, municipalities, and individual consumers. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report.
The announcement of the dividend follows the corporation's commitment to deliver value to its shareholders. While the stock has experienced a 10.8% decline over the past week, it has shown strong momentum with a 31.5% gain over the last six months. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and The First of Long Island Corporation's latest declaration is consistent with its practice of providing shareholder returns.
This financial event is based on a press release statement from The First of Long Island Corporation. The company operates within the banking industry, which is subject to economic fluctuations and regulatory changes. However, the declaration of dividends is a sign of the company's current financial health and its ability to generate sufficient profits to share with its investors.
Investors holding shares of The First of Long Island Corporation (NASDAQ: FLIC) can expect to receive the dividend payment in early January, provided they are documented shareholders by the end of December. The banking institution's commitment to its "Customer First" banking experience continues to be a cornerstone of its service delivery and business philosophy.
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