Park National Co. (NYSE:PRK) Increases Dividend to $1.07 Per Share

Park National Co. (NYSE:PRKGet Free Report) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 1.07 per share on Monday, March 10th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. This is a positive change from Park National’s previous quarterly dividend of $1.06.

Park National has raised its dividend payment by an average of 1.0% annually over the last three years. Park National has a payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Park National to earn $8.82 per share next year, which means the company should continue to be able to cover its $4.24 annual dividend with an expected future payout ratio of 48.1%.

Park National Price Performance

NYSE PRK traded up $2.27 during mid-day trading on Tuesday, hitting $171.39. The stock had a trading volume of 52,096 shares, compared to its average volume of 65,382. Park National has a twelve month low of $123.08 and a twelve month high of $207.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50 day moving average is $179.89 and its 200 day moving average is $174.35. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 20.28 and a beta of 0.74.

Park National Company Profile

(Get Free Report)

Park National Corporation operates as the bank holding company for Park National Bank that provides commercial banking and trust services in small and medium population areas. The company offers deposits for demand, savings, and time accounts; trust and wealth management services; cash management services; safe deposit operations; electronic funds transfers; Internet and mobile banking solutions with bill pay service; credit cards; and various additional banking-related services.

Further Reading

Dividend History for Park National (NYSE:PRK)

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