Central Pacific Financial Corp. (NYSE:CPF) Plans $0.26 Quarterly Dividend

Central Pacific Financial Corp. (NYSE:CPF) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.26 per share by the financial services provider on Monday, December 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, November 29th.

Central Pacific Financial has raised its dividend by an average of 4.2% per year over the last three years. Central Pacific Financial has a dividend payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Central Pacific Financial to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 40.8%.

Central Pacific Financial Stock Performance

Shares of NYSE CPF opened at $32.22 on Wednesday. The stock has a market cap of $872.06 million, a price-to-earnings ratio of 15.34 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial has a 1-year low of $16.95 and a 1-year high of $33.25. The stock’s 50-day moving average is $29.21 and its 200 day moving average is $25.41.

Analyst Ratings Changes

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.