Park National Co. (PRK) to Issue Quarterly Dividend of $1.10 on March 10th

Park National Co. (NYSE:PRK) announced a quarterly dividend on Monday, January 26th. Shareholders of record on Friday, February 20th will be given a dividend of 1.10 per share on Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, February 20th.

Park National has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Park National has a payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Park National to earn $9.03 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 47.4%.

Park National Trading Down 0.1%

NYSE PRK opened at $161.10 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.59 billion, a PE ratio of 17.30 and a beta of 0.73. The company has a 50 day moving average price of $158.55 and a 200 day moving average price of $161.81. Park National has a 52 week low of $137.97 and a 52 week high of $179.48.

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.