Park National Co. (NYSE:PRK) Increases Dividend to $1.30 Per Share

Park National Co. (NYSE:PRK) declared a quarterly dividend on Monday, October 26th. Investors of record on Friday, November 20th will be given a dividend of $1.30 per share on Thursday, December 10th. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, November 20th. This is a 18.2% increase from Park National’s previous quarterly dividend of $1.10.

Park National has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 8 years. Park National has a dividend payout ratio of 44.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Park National to earn $9.03 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 48.7%.

Park National Trading Up 0.2%

Shares of PRK stock opened at $183.32 on Tuesday. The company’s fifty day simple moving average is $187.16 and its two-hundred day simple moving average is $177.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.94 and a quick ratio of 0.95. Park National has a 1 year low of $149.06 and a 1 year high of $215.00. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 19.69 and a beta of 0.72.

About Park National

Park National Corporation is a bank holding company headquartered in Newark, Ohio. Its principal subsidiary, The Park National Bank, provides banking and financial services to individuals, families, businesses and nonprofit organizations.

The bank offers deposit accounts, residential and commercial lending, mortgage services, treasury management, online and mobile banking, and other personal and business financial solutions. Through its wealth management and trust operations, it also provides investment management, fiduciary, retirement and estate-planning services.