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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."
News For NWBI From The Last 14 Days
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July 21, 2014
10:50 EDTNWBINorthwest Bancshares reports Q2 EPS 14c, consensus 16c
The provision for loan losses increased by $2.9M, or 53.3%, to $8.3M for the quarter ended June 30, from $5.4M for the quarter ended June 30, 2013 and increased by $800,000 compared to the quarter ended March 31. This increase is due primarily to the deterioration of several commercial loans which required a provision of $5.5M.

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