Central Pacific Financial Corp. (NYSE:CPF) to Issue Quarterly Dividend of $0.26

Central Pacific Financial Corp. (NYSE:CPF) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Friday, November 29th will be given 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 raised its dividend payment by an average of 4.2% annually over the last three years. Central Pacific Financial has a payout ratio of 41.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 8.1 %

Central Pacific Financial stock opened at $26.78 on Thursday. 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 quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $724.18 million, a PE ratio of 13.06 and a beta of 1.13. The business’s 50-day simple moving average is $28.11 and its 200-day simple moving average is $24.07.

Central Pacific Financial (NYSE:CPF) last issued 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. Central Pacific Financial had a return on equity of 11.36% and a net margin of 16.44%. The company had revenue of $66.59 million for the quarter, compared to the consensus estimate of $65.22 million. Equities research analysts forecast that Central Pacific Financial will post 2.2 earnings per share for the current 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.