Park National Co. (NYSE:PRK) Plans $1.10 Quarterly Dividend

Park National Co. (NYSE:PRK) announced a quarterly dividend on Friday, April 24th. Stockholders of record on Friday, May 15th will be given a dividend of 1.10 per share on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, May 15th.

Park National has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Park National has a dividend payout ratio of 44.4% indicating that 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 Stock Down 0.9%

Shares of Park National stock traded down $1.56 on Wednesday, reaching $167.48. The stock had a trading volume of 6,771 shares, compared to its average volume of 80,837. 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 stock has a market capitalization of $3.03 billion, a P/E ratio of 18.00 and a beta of 0.71. The company has a 50 day moving average price of $166.13 and a 200 day moving average price of $162.76. Park National has a 1 year low of $149.06 and a 1 year 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.