Camden National Co. (NASDAQ:CAC) Declares Quarterly Dividend of $0.30

Camden National Co. (NASDAQ:CAC) announced a quarterly dividend on Tuesday, September 24th, Zacks reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.30 per share by the financial services provider on Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, October 11th.

Camden National has raised its dividend by an average of 11.2% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Camden National has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings.

Shares of NASDAQ:CAC traded up $0.52 during trading on Wednesday, reaching $42.41. 430 shares of the company’s stock traded hands, compared to its average volume of 33,901. Camden National has a fifty-two week low of $33.49 and a fifty-two week high of $47.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15. The firm has a market cap of $658.59 million, a PE ratio of 12.51 and a beta of 0.81. The company has a 50-day simple moving average of $42.83 and a 200-day simple moving average of $43.37.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.07). Camden National had a net margin of 27.38% and a return on equity of 12.54%. The business had revenue of $41.61 million for the quarter, compared to analyst estimates of $42.60 million.

Several research firms recently issued reports on CAC. BidaskClub upgraded Camden National from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Zacks Investment Research cut Camden National from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, ValuEngine upgraded Camden National from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

About Camden National

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit.

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Dividend History for Camden National (NASDAQ:CAC)

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