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

Lakeland Financial Corporation (NASDAQ:LKFN) declared a quarterly dividend on Tuesday, July 14th. Investors of record on Saturday, July 25th will be paid a dividend of 0.52 per share by the financial services provider on Wednesday, August 5th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, July 24th.

Lakeland Financial has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 14 years. Lakeland Financial has a dividend 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 Trading Up 0.1%

Lakeland Financial stock opened at $62.11 on Wednesday. Lakeland Financial has a 12-month low of $54.36 and a 12-month high of $69.40. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 14.55 and a beta of 0.73. The firm has a 50 day moving average of $60.55 and a 200 day moving average of $59.67.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $69.71 million for the quarter, compared to the consensus estimate of $70.42 million. Lakeland Financial had a net margin of 25.81% and a return on equity of 14.79%. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, analysts predict that Lakeland Financial will post 4.3 EPS for the current year.

Lakeland Financial Company Profile

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.