Park National Co. (NYSE:PRK) Announces Quarterly Dividend of $0.50

Park National Co. (NYSE:PRK) announced a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.50 per share on Tuesday, December 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, November 15th.

Park National has increased its dividend by an average of 1.0% annually over the last three years. Park National has a dividend payout ratio of 48.5% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of PRK stock opened at $195.20 on Wednesday. The stock’s fifty day moving average is $171.85 and its 200-day moving average is $157.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $3.15 billion, a PE ratio of 22.55 and a beta of 0.70. Park National has a 52 week low of $103.26 and a 52 week high of $207.51.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Park National from a “hold” rating to a “sell” rating in a report on Friday, August 23rd.

Park National Company Profile

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.