The board of Bankwell Financial Group Inc. declared a dividend of 12 cents per share, higher than the previous dividend of 7 cents per share.
Payout will be on March 8 to shareholders of record on Feb. 26.
The New Canaan, Conn.-based company's fourth-quarter 2017 net income declined to $2.1 million, or 27 cents per share, from the previous year's $3.3 million, or 43 cents per share. Bankwell incurred a $3.3 million write-down in deferred tax assets due to U.S. tax reform in the recent quarter. For full year 2017, net income increased year over year to $13.8 million, or $1.78 per share, from $12.4 million, or $1.62 per share.
