City Holding Company (NASDAQ:CHCO) Declares Quarterly Dividend of $1.00

City Holding Company (NASDAQ:CHCO) declared a quarterly dividend on Wednesday, September 30th. Stockholders of record on Thursday, October 15th will be paid a dividend of $1.00 per share by the bank on Friday, October 30th. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 15th. This is a 14.9% increase from City’s previous quarterly dividend of $0.87.

City has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 6 years. City has a payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect City to earn $9.73 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 35.8%.

City Stock Performance

CHCO stock opened at $139.12 on Thursday. City has a 1-year low of $113.21 and a 1-year high of $148.99. The business has a 50-day moving average price of $143.76 and a 200 day moving average price of $132.40. The company has a market capitalization of $1.95 billion, a P/E ratio of 15.22 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The business had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. As a group, equities research analysts forecast that City will post 9.32 EPS for the current fiscal year.

About City

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank of West Virginia, the company provides banking and financial services to consumers, businesses, and public-sector organizations.

City National Bank offers checking and savings accounts, consumer and commercial loans, residential mortgage lending, online and mobile banking, treasury management, and other deposit and credit products.