VersaBank (NASDAQ:VBNK) to Issue Quarterly Dividend of C$0.03

VersaBank (NASDAQ:VBNK) declared a quarterly dividend on Wednesday, December 10th. Stockholders of record on Friday, January 9th will be paid a dividend of 0.025 per share on Saturday, January 31st. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, January 9th.

VersaBank has a dividend payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Analysts expect VersaBank to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.07 annual dividend with an expected future payout ratio of 3.1%.

VersaBank Price Performance

VersaBank stock opened at $13.80 on Thursday. The company has a market cap of $440.70 million, a price-to-earnings ratio of 19.00 and a beta of 0.97. The firm has a 50-day moving average of $11.98 and a 200-day moving average of $11.65. VersaBank has a one year low of $8.51 and a one year high of $16.47.

VersaBank (NASDAQ:VBNK) last released its earnings results on Wednesday, December 10th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. VersaBank had a return on equity of 7.47% and a net margin of 9.56%.The business had revenue of $25.05 million for the quarter, compared to the consensus estimate of $24.48 million. As a group, sell-side analysts expect that VersaBank will post 1.46 earnings per share for the current year.

About VersaBank

VersaBank provides various banking products and services in Canada and the United States. It offers deposit products, such as web-based chequing accounts, guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products. The company also provides lending services, including point of sale financing that covers purchasing loan and lease receivables from finance companies operating in various industries; commercial banking services comprising commercial real estate, public sector/infrastructure financing, and condominium financing; and residential mortgages.