Central Pacific Financial Corp. (NYSE:CPF) Announces $0.26 Quarterly Dividend

Central Pacific Financial Corp. (NYSE:CPF) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.26 per share by the financial services provider on Monday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Friday, November 29th.

Central Pacific Financial has increased its dividend payment by an average of 4.2% per year over the last three years. Central Pacific Financial has a dividend payout ratio of 41.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Central Pacific Financial to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 41.6%.

Central Pacific Financial Stock Down 8.1 %

Shares of Central Pacific Financial stock opened at $26.78 on Thursday. The firm has a market cap of $724.18 million, a price-to-earnings ratio of 13.06 and a beta of 1.13. The stock has a 50-day simple moving average of $28.11 and a 200-day simple moving average of $24.07. Central Pacific Financial has a 52-week low of $15.62 and a 52-week high of $30.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $66.59 million for the quarter, compared to analyst estimates of $65.22 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. On average, equities research analysts expect that Central Pacific Financial will post 2.2 earnings per share for the current fiscal year.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.