Park National Co. Plans Quarterly Dividend of $0.50 (NYSE:PRK)

Park National Co. (NYSE:PRK) announced a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.50 per share on Tuesday, December 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, November 15th.

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 48.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.1 %

NYSE PRK opened at $194.66 on Thursday. Park National has a 52 week low of $107.75 and a 52 week high of $207.51. The company has a 50 day moving average price of $172.34 and a 200 day moving average price of $158.38. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.15 billion, a PE ratio of 22.92 and a beta of 0.70.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Park National from a “hold” rating to a “sell” rating in a report on Friday, August 23rd.

Park National Company Profile

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.