Park National Co. (NYSE:PRK) Plans Quarterly Dividend of $1.07

Park National Co. (NYSE:PRK) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 1.07 per share on Monday, March 10th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. This is an increase from Park National’s previous quarterly dividend of $1.06.

Park National has raised its dividend by an average of 1.0% per year over the last three years. Park National has a payout ratio of 49.0% meaning its dividend is sufficiently covered by earnings. Research 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

PRK stock opened at $171.39 on Wednesday. Park National has a 12 month low of $123.08 and a 12 month high of $207.99. The company has a 50-day moving average price of $179.09 and a 200 day moving average price of $174.59. The stock has a market cap of $2.77 billion, a PE ratio of 19.04 and a beta of 0.74. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

About Park National

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.