Lakeland Financial Corporation (LKFN) to Issue Quarterly Dividend of $0.52 on August 5th

Lakeland Financial Corporation (NASDAQ:LKFN) declared a quarterly dividend on Tuesday, July 14th. Stockholders of record on Saturday, July 25th will be given a dividend of 0.52 per share by the financial services provider on Wednesday, August 5th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, July 24th.

Lakeland Financial has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 14 years. Lakeland Financial has a payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lakeland Financial to earn $4.48 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 46.4%.

Lakeland Financial Price Performance

Shares of LKFN opened at $61.63 on Thursday. The firm has a 50-day simple moving average of $60.43 and a two-hundred day simple moving average of $59.53. The stock has a market cap of $1.54 billion, a PE ratio of 14.43 and a beta of 0.73. Lakeland Financial has a 1-year low of $54.36 and a 1-year high of $69.40.

Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Monday, April 27th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $69.71 million for the quarter, compared to analyst estimates of $70.42 million. Lakeland Financial had a return on equity of 14.79% and a net margin of 25.81%.During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, sell-side analysts expect that Lakeland Financial will post 4.3 earnings per share for the current fiscal year.

About Lakeland Financial

Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.

Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.