Citizens & Northern Corporation announced its most recent dividend declaration and its unaudited, consolidated financial results for the three-month and nine-month periods ended Sept. 30.

Dividend declared

On Oct. 21, C&N’s board of directors declared a regular quarterly cash dividend of $0.28 per share. The dividend is payable on Nov. 12 to shareholders of record as of Nov. 1.

Unaudited financial information

Net income was $0.47 per diluted share in the third quarter 2021, up from $0.44 in the second quarter 2021 and up $0.29 from $0.18 in the third quarter 2020. For the nine months ended Sept. 30, net income per diluted share was $1.46, up from $0.86 per share for the first nine months of 2020. As described below, earnings of $0.47 per share for the third quarter 2021 were 6.0% lower than third quarter 2020 non-U.S. generally accepted accounting principles earnings per share of $0.50 as adjusted to exclude the impact of merger-related expenses. For the nine months ended Sept. 30, 2021, earnings of $1.46 per share were 15.0% higher than the first nine months of 2020 non-U.S. GAAP earnings per share of $1.27 as adjusted to exclude the impact of merger-related expenses.

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