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

Park National Co. (NYSE:PRK) declared a quarterly dividend on Monday, October 28th, NASDAQ 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 1.12%. The ex-dividend date is Friday, November 15th.

Park National has increased its dividend by an average of 1.0% per year over the last three years. Park National has a payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. 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

Shares of NYSE PRK traded up $6.16 during midday trading on Tuesday, hitting $178.99. The stock had a trading volume of 52,583 shares, compared to its average volume of 51,488. The company has a market capitalization of $2.89 billion, a PE ratio of 20.62 and a beta of 0.70. The stock has a 50 day simple moving average of $169.45 and a 200-day simple moving average of $154.16. Park National has a 1 year low of $99.16 and a 1 year high of $190.84. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Park National from a “hold” rating to a “sell” rating in a report on Friday, August 23rd.

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.