Park National Co. (PRK) to Issue Quarterly Dividend of $1.07 on March 10th

Park National Co. (NYSE:PRK) declared 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 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase 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. Equities 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 Stock Performance

Shares of PRK opened at $171.39 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.77 billion, a P/E ratio of 19.04 and a beta of 0.74. The firm’s fifty day simple moving average is $179.09 and its two-hundred day simple moving average is $174.59. Park National has a 12 month low of $123.08 and a 12 month high of $207.99.

About Park National

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.