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Camden National provides earnings projections from tax reform


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Camden National provides earnings projections from tax reform

Camden National Corp. said that based on Sept. 30 financial data, it estimates that its diluted earnings per share will drop by 6 cents per share to 8 cents per share for every 1% decrease in the federal corporate income tax rate.

This is due to a one-time capital charge related to the revaluation of its deferred tax assets once tax reform is passed. The company's actual results may vary materially from the estimate due to preliminary information uncertainties, according to a Dec. 19 news release.

Camden National also declared a fourth-quarter dividend of 25 cents per share, showing an increase of 2 cents per share, or 9%, from the previous quarterly payout of 23 cents per share. The dividend is payable Jan. 31, 2018, to shareholders of record as of Jan. 15, 2018.