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

Park National Co. (NYSE:PRK) announced a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.50 per share on Tuesday, December 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, November 15th.

Park National has increased its dividend payment by an average of 1.0% per year over the last three years. Park National has a payout ratio of 48.5% 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 opened at $194.66 on Thursday. The business has a fifty day moving average of $172.34 and a 200 day moving average of $158.38. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.15 billion, a P/E ratio of 22.92 and a beta of 0.70. Park National has a 52-week low of $107.75 and a 52-week high of $207.51.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Park National from a “hold” rating to a “sell” rating in a research note 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.