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

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Friday, November 29th will be given 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 yield of 3.85%. The ex-dividend date of this dividend is Friday, November 29th.

Central Pacific Financial has raised its dividend payment by an average of 4.2% per year over the last three years. Central Pacific Financial has a dividend payout ratio of 41.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Central Pacific Financial to earn $2.50 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 41.6%.

Central Pacific Financial Price Performance

Shares of Central Pacific Financial stock traded up $0.28 during trading on Thursday, reaching $27.04. The company's stock had a trading volume of 140,623 shares, compared to its average volume of 191,389. Central Pacific Financial has a one year low of $15.62 and a one year high of $30.30. The stock has a 50-day moving average price of $28.12 and a two-hundred day moving average price of $24.09. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $731.22 million, a P/E ratio of 13.28 and a beta of 1.13.

Central Pacific Financial (NYSE:CPF - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. The company had revenue of $66.59 million during the quarter, compared to the consensus estimate of $65.22 million. As a group, sell-side analysts anticipate that Central Pacific Financial will post 2.2 EPS for the current fiscal year.

About Central Pacific Financial

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.