Camden National Corporation (NASDAQ:CAC) Announces Quarterly Dividend of $0.42

Camden National Corporation (NASDAQ:CAC) declared a quarterly dividend on Tuesday, September 29th. Investors of record on Thursday, October 15th will be paid a dividend of $0.42 per share by the financial services provider on Friday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, October 15th.

Camden National has increased its dividend payment by an average of 0.0%annually over the last three years. Camden National has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Camden National to earn $5.78 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 29.1%.

Camden National Stock Down 2.2%

Shares of NASDAQ:CAC opened at $56.15 on Wednesday. The company has a market cap of $948.93 million, a price-to-earnings ratio of 10.76 and a beta of 0.54. Camden National has a 12 month low of $35.00 and a 12 month high of $60.59. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $57.32 and a 200 day moving average price of $52.73.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.06. Camden National had a return on equity of 12.59% and a net margin of 23.64%.The company had revenue of $67.41 million for the quarter, compared to analysts’ expectations of $66.41 million. As a group, equities research analysts predict that Camden National will post 5.36 earnings per share for the current year.

Camden National Company Profile

Camden National Corporation (NASDAQ:CAC) is a bank holding company headquartered in Camden, Maine. Its principal subsidiary, Camden National Bank, provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities across Maine.

The bank offers deposit accounts, residential and commercial lending, home equity loans, consumer loans, cash-management services, online and mobile banking, and other financial products. Through its wealth-management operations, Camden National also provides investment management, trust, retirement planning and related advisory services.

Camden National traces its history to 1875 and has grown into a community-focused banking organization serving customers through a network of locations throughout Maine.