8-K
CAMDEN NATIONAL CORP (CAC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 20, 2022
Camden National Corporation
(Exact name of registrant as specified in its charter)
| Maine | 01-28190 | 01-0413282 | |
|---|---|---|---|
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |
| Two Elm Street | Camden | Maine | 04843 |
| (Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code: (207) 236-8821
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, without par value | CAC | The NASDAQ Stock Market LLC |
| Item 8.01 | Other Events. | |
| --- | --- |
Camden National Corporation issued a press release on December 20, 2022, declaring a quarterly dividend of $0.42 per share payable on January 31, 2023 to its shareholders of record on January 13, 2023.
| Item 9.01 | Financial Statements and Exhibits. |
|---|
(d) The following exhibits are filed with this Report:
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release dated December 20, 2022. |
| 101 | Cover Page Interactive Data - the cover page XBRL tags are embedded within the Inline XBRL document. |
| 104 | Cover Page Interactive Data File - Included in Exhibit 101. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 20, 2022
| CAMDEN NATIONAL CORPORATION<br>(Registrant) | |
|---|---|
| By: | /s/ MICHAEL R. ARCHER |
| Michael R. Archer<br>Chief Financial Officer and Principal Financial & Accounting Officer |
Document
CONTACT:
Michael Archer
Executive Vice President
Chief Financial Officer
Camden National Corporation
(800) 860-8821
marcher@camdennational.bank
FOR IMMEDIATE RELEASE
Camden National Corporation Announces a 5% Increase in its Fourth Quarter 2022 Dividend
CAMDEN, Maine, December 20, 2022 /PRNewswire/ -- Gregory A. Dufour, president and chief executive officer of Camden National Corporation (NASDAQ®: CAC; "Company"), announced today that the board of directors of the Company declared a quarterly dividend of $0.42 per share, an increase of $0.02 per share, or 5%. This quarterly payout results in an annualized dividend yield of 4.10% based on the December 19, 2022 closing price of the Company's common stock at $40.95 per share as reported by NASDAQ. The dividend is payable on January 31, 2023 to shareholders of record on January 13, 2023.
“We are pleased to announce a 5% increase in our dividend to shareholders,” said Dufour. “Over the past ten years, we have increased our cash dividend from $0.67 to now $1.68 per common share on an annualized basis, a 151% increase. This highlights our ability to generate long-term sustainable earnings as well as our commitment to our shareholders.”
About Camden National Corporation
Camden National Corporation is the largest publicly traded bank holding company in Northern New England with $5.6 billion in assets and approximately 620 employees. Camden National Bank, its subsidiary, is a full-service community bank founded in 1875 in Camden, Maine. Dedicated to customers at every stage of their financial journey, the bank offers the latest in digital banking, complemented by personalized service with 58 banking centers, 24/7 live phone support, 66 ATMs, and additional lending offices in New Hampshire and Massachusetts. For the past three years, Camden National Bank was named a Customer Experience (CX) Leader by independent research firm, Greenwich Associates. In 2021, it received awards in two CX categories: U.S. Retail Banking and U.S. Commercial Small Business and the bank was included in the Best Places to Work in Maine, for the second year. Member FDIC. Equal Housing Lender.
Comprehensive wealth management, investment and financial planning services are delivered by Camden National Wealth Management. To learn more, visit CamdenNational.bank.