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Stock Market & Financial Investment News

News Breaks
December 13, 2012
11:26 EDTNWBINorthwest Bancshares expands share repurchase program
Northwest Bancshares announced that its Board of Directors has authorized expanding its existing stock repurchase program to repurchase 5M additional shares, or approximately 5.2%, of the company's outstanding common stock. The existing stock repurchase program was initiated on September 26, 2011 and authorized the repurchase of 4.75M shares of common stock, of which approximately 2.6M shares remain to be repurchased. The company has repurchased approximately 16.5M shares, or approximately 15%, of its common stock, since completing its second step conversion on December 18, 2009.
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April 14, 2014
09:08 EDTNWBINorthwest Bancshares declares $1.00 special cash dividend
Northwest Bancshares announced the declaration of a special cash dividend of $1.00 per share. This dividend will be paid on May 15 to shareholders of record as of May 1. The Company said "The Board of Directors recognizes the amount of capital our company is carrying and our limited opportunities to leverage this capital given that economic growth is tepid and attractive acquisition opportunities are limited. We further recognize that this payment may favorably impact the valuation of our stock relative to tangible book value per share which could make future acquisition opportunities more viable. Finally, we anticipate this return of capital to our shareholders will enhance the future return on their investment in Northwest while providing them with additional cash flow and an enhanced dividend yield in the current year."

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