BOK Financial Corporation (NASDAQ:BOKF) Declares $0.63 Quarterly Dividend

Key Points

• BOK Financial declared a quarterly dividend of $0.63 per share, with an ex-dividend date and record date of May 13 and a payment date of May 27.
• The dividend implies an annualized yield of 1.9%, and the payout remains well covered with a 28.3% payout ratio; analysts expect that coverage to remain solid next year.
• The bank also posted better-than-expected first-quarter results, earning $2.58 per share versus the $2.30 estimate and generating revenue slightly above forecasts.

BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) announced a quarterly dividend on Tuesday, May 5th. Investors of record on Wednesday, May 13th will be given a dividend of 0.63 per share by the bank on Wednesday, May 27th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, May 13th.

BOK Financial has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 20 years. BOK Financial has a payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BOK Financial to earn $10.81 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 23.3%.

BOK Financial Price Performance

BOKF opened at $132.47 on Monday. The company's 50 day simple moving average is $130.01 and its 200 day simple moving average is $123.37. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. BOK Financial has a 1 year low of $91.35 and a 1 year high of $139.73. The stock has a market capitalization of $8.05 billion, a PE ratio of 13.41 and a beta of 0.83.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its earnings results on Monday, April 20th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. The business had revenue of $553.82 million for the quarter, compared to analysts' expectations of $549.71 million. During the same period last year, the company earned $1.86 earnings per share. As a group, sell-side analysts expect that BOK Financial will post 10.24 EPS for the current year.

BOK Financial Company Profile

BOK Financial Corporation NASDAQ: BOKF, headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company's offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.

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