Lakeland Financial Corporation to Issue Quarterly Dividend of $0.52 (NASDAQ:LKFN)

Lakeland Financial Corporation (NASDAQ:LKFN) declared a quarterly dividend on Tuesday, July 14th. Stockholders of record on Saturday, July 25th will be paid a dividend of 0.52 per share by the financial services provider on Wednesday, August 5th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, July 24th.

Lakeland Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Lakeland Financial has a dividend payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lakeland Financial to earn $4.48 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 46.4%.

Lakeland Financial Stock Performance

Lakeland Financial stock opened at $61.63 on Thursday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 14.43 and a beta of 0.73. The company’s fifty day moving average price is $60.43 and its 200 day moving average price is $59.53. Lakeland Financial has a 1 year low of $54.36 and a 1 year high of $69.40.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $69.71 million during the quarter, compared to analysts’ expectations of $70.42 million. Lakeland Financial had a net margin of 25.81% and a return on equity of 14.79%. During the same period in the prior year, the business posted $0.78 earnings per share. Sell-side analysts predict that Lakeland Financial will post 4.3 EPS for the current year.

Lakeland Financial Company Profile

Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.

Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.