Park National Co. (NYSE:PRK – Get Free Report) announced a quarterly dividend on Friday, April 24th. Shareholders of record on Friday, May 15th will be paid a dividend of 1.10 per share on Wednesday, June 10th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, May 15th.
Park National has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 8 years. Park National has a payout ratio of 44.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Park National to earn $9.03 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 48.7%.
Park National Price Performance
NYSE PRK traded down $1.99 on Wednesday, reaching $167.05. The company’s stock had a trading volume of 8,128 shares, compared to its average volume of 80,877. Park National has a twelve month low of $149.06 and a twelve month high of $179.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.94. The firm’s 50 day moving average is $166.13 and its two-hundred day moving average is $162.76. The stock has a market cap of $3.02 billion, a PE ratio of 17.93 and a beta of 0.71.
About Park National
Park National Corporation is a bank holding company whose primary subsidiary, The Park National Bank, provides a full suite of commercial and personal banking services. The company’s main business activities include deposit-taking, commercial and industrial lending, mortgage originations and trust and wealth management services. Park National aims to serve the financial needs of businesses, professionals, families and nonprofit organizations across its regional footprint.
Through its subsidiary banks, Park National offers traditional deposit products such as checking and savings accounts, money market accounts and certificates of deposit, alongside loan products including commercial real estate loans, agricultural lending, equipment financing and consumer installment loans.
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