Citizens & Northern Corp (NASDAQ:CZNC) Increases Dividend to $0.30 Per Share

Citizens & Northern Corp (NASDAQ:CZNC) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Monday, November 2nd will be given a dividend of $0.30 per share by the financial services provider on Friday, November 13th. This represents a $1.20 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, November 2nd. This is a 7.1% increase from Citizens & Northern’s previous quarterly dividend of $0.28.

Citizens & Northern has a payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens & Northern to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 40.7%.

Citizens & Northern Stock Performance

Shares of NASDAQ:CZNC traded up $1.11 on Friday, reaching $27.75. 114,798 shares of the company’s stock were exchanged, compared to its average volume of 55,419. The firm has a market capitalization of $497.56 million, a price-to-earnings ratio of 18.75 and a beta of 0.41. Citizens & Northern has a fifty-two week low of $18.87 and a fifty-two week high of $27.78. The business’s 50-day moving average is $25.64 and its two-hundred day moving average is $23.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45.

Citizens & Northern (NASDAQ:CZNC) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.68 by $0.24. Citizens & Northern had a net margin of 13.28% and a return on equity of 9.54%. The business had revenue of $40.07 million during the quarter, compared to analyst estimates of $37.20 million. As a group, equities research analysts forecast that Citizens & Northern will post 2.17 EPS for the current year.

About Citizens & Northern

Citizens & Northern Corporation is a bank holding company headquartered in Wellsboro, Pennsylvania. Through its principal subsidiary, Citizens & Northern Bank, the company provides community banking services to individuals, families, businesses and organizations.

The bank offers deposit accounts, consumer and commercial lending, residential mortgages, agricultural loans, cash-management services and online and mobile banking. It also provides wealth management, trust and investment services, as well as insurance and other financial solutions through affiliated businesses and service providers.

Founded in 1864, Citizens & Northern has a long history of serving communities in north-central Pennsylvania and nearby areas of southern New York.