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

Park National Co. (NYSE:PRK) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors 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 yield of 2.50%. The ex-dividend date is Friday, February 14th. This is a positive change from Park National’s previous quarterly dividend of $1.06.

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 49.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.3 %

NYSE:PRK traded up $2.27 during midday trading on Tuesday, hitting $171.39. 52,096 shares of the company were exchanged, compared to its average volume of 65,376. The company has a fifty day simple moving average of $179.89 and a 200 day simple moving average of $174.35. Park National has a fifty-two week low of $123.08 and a fifty-two week high of $207.99. The company has a market capitalization of $2.77 billion, a PE ratio of 20.28 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.