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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): March 21, 2003
FIRST NATIONAL LINCOLN CORPORATION
(Exact name of Registrant as specified in charter)
MAINE
(State or other jurisdiction of incorporation)
0-26589 01-0404322
(Commission file number) (IRS employer identification no.)
Main Street, Damariscotta, Maine 04853
(Address of principal executive offices) (Zip Code)
(207) 563-3195
(Registrant's telephone number, including area code)
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Item 5. Other Events
The Company today issued the following press release:
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First National Lincoln Corporation Declares Dividend
DAMARISCOTTA, Maine--(BUSINESS WIRE)--March 20, 2003--The Board of Directors of
First National Lincoln Corporation (NASDAQ NM: FNLC), today declared a
quarterly dividend of $0.27 per share. This first quarter dividend, which is
payable April 30, 2003, to shareholders of record as of April 7, 2003,
represents an increase of 17.4% or $0.04 per share over the first quarter
dividend declared in 2002.
"The Company has now raised its dividend for thirty consecutive quarters with
this increase of $0.01 to $0.27 per share," noted Daniel R. Daigneault, FNLC's
President & Chief Executive Officer. "This translates into an annual dividend
of $1.08 per share, and based on today's closing price of $34.05 per share, our
dividend yield is 3.2%.
"It is also worth noting the strong performance our stock has seen thus far in
2003," President Daigneault added. "FNLC's shares have traded up $2.57 or 8.2%
since December 31, 2002, based upon the year-end closing price of $31.48 per
share and today's closing price of $34.05 per share. In my opinion, the
combination of the strong earnings performance we posted in 2002 and the fact
that we share these earnings with our shareholders in the form of cash
dividends makes First National Lincoln Corporation an attractive investment.
This is especially true since dividends have become very important to investors
given the generally poor equity returns seen in the broad market during the
past few years."
First National Lincoln Corporation, headquartered in Damariscotta, Maine, is
the holding company for The First National Bank of Damariscotta and Pemaquid
Advisors. The First is an independent community bank serving Mid-Coast Maine
with seven offices in Lincoln and Knox Counties that provide consumer and
commercial banking products and services. Pemaquid Advisors provides investment
advisory and trust services from offices in Damariscotta and Portland, Maine.
Forward-looking and cautionary statements: except for the historical
information and discussions contained herein, statements contained in this
release may constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements involve a
number of risks, uncertainties and other factors that could cause actual
results to differ materially, as discussed in the company's filings with the
Securities and Exchange Commission.
For additional information contact F. Stephen Ward, Treasurer & Chief Financial
Officer, at 207.563.3272.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Company has duly caused this report to be filed on its behalf by
the undersigned thereunto duly authorized.
FIRST NATIONAL LINCOLN CORPORATION
By: /s/ F. Stephen Ward
F. Stephen Ward
Treasurer & Chief Financial Officer
March 21, 2003