Citizens & Northern Corporation announced its most recent dividend declaration and its unaudited, consolidated financial results for the three-month and six-month periods ended June 30.
On July 22, C&N’s board of directors declared a regular quarterly cash dividend of $0.28 per share. The dividend is payable on Aug. 13 to shareholders of record as of Aug. 2.
Net income was $0.44 per diluted share in the second quarter 2021, down from $0.55 in the first quarter 2021 and up $0.05 (12.8%) from $0.39 in the second quarter 2020. For the six months ended June 30, net income per diluted share was $0.99, up from $0.70 per share for the first six months of 2020.
Earnings of $0.44 per share for the second quarter 2021 were 0.2% lower than second quarter 2020 non-U.S. generally accepted accounting principles earnings per share of $0.45 as adjusted to exclude the impact of merger-related expenses.
For the six months ended June 30, earnings of $0.99 per share were 30.3% higher than the first six months of 2020 non-U.S. GAAP earnings per share of $0.76 as adjusted to exclude the impact of merger-related expenses.