Camden National Corporation (NASDAQ:CAC) Plans Quarterly Dividend of $0.42

Key Points

• Camden National declared a quarterly dividend of $0.42 per share, payable October 30 to shareholders of record on October 15. The annualized dividend is $1.68 per share, representing a 3.0% yield.
• The dividend appears well covered, with a 33.1% payout ratio and an expected future payout ratio of 29.1% based on analysts’ projected earnings.
• Camden National’s latest quarterly earnings beat expectations, reporting $1.35 in EPS versus the $1.29 consensus estimate and revenue of $67.41 million versus $66.41 million expected.

Camden National Corporation (NASDAQ:CAC - Get Free Report) announced a quarterly dividend on Tuesday, September 29th. Shareholders of record on Thursday, October 15th will be given a dividend of $0.42 per share by the financial services provider on Friday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, October 15th.

Camden National has increased its dividend payment by an average of 0.0%annually over the last three years. Camden National has a dividend payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Camden National to earn $5.78 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 29.1%.

Camden National Trading Down 2.2%

NASDAQ:CAC opened at $56.15 on Wednesday. The business has a fifty day moving average price of $57.32 and a 200-day moving average price of $52.73. The firm has a market capitalization of $948.93 million, a price-to-earnings ratio of 10.76 and a beta of 0.54. Camden National has a one year low of $35.00 and a one year high of $60.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.06. Camden National had a net margin of 23.64% and a return on equity of 12.59%. The business had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.41 million. Sell-side analysts forecast that Camden National will post 5.36 EPS for the current year.

Camden National Company Profile

Camden National Corporation NASDAQ: CAC is a bank holding company headquartered in Camden, Maine. Its principal subsidiary, Camden National Bank, provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities across Maine.

The bank offers deposit accounts, residential and commercial lending, home equity loans, consumer loans, cash-management services, online and mobile banking, and other financial products. Through its wealth-management operations, Camden National also provides investment management, trust, retirement planning and related advisory services.

Camden National traces its history to 1875 and has grown into a community-focused banking organization serving customers through a network of locations throughout Maine.

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