Lakeland Financial Corporation (NASDAQ:LKFN) to Issue Quarterly Dividend of $0.52

Lakeland Financial Corporation (NASDAQ:LKFN) announced 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) annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, July 24th.

Lakeland Financial has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Lakeland Financial has a dividend payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. 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 1.8%

NASDAQ LKFN opened at $61.63 on Thursday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 14.43 and a beta of 0.73. The business has a fifty day simple moving average of $60.43 and a 200 day simple moving average of $59.53. Lakeland Financial has a 12 month low of $54.36 and a 12 month high of $69.40.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Lakeland Financial had a net margin of 25.81% and a return on equity of 14.79%. The firm had revenue of $69.71 million for the quarter, compared to the consensus estimate of $70.42 million. During the same period in the previous year, the firm earned $0.78 EPS. As a group, sell-side analysts predict that Lakeland Financial will post 4.3 EPS for the current fiscal year.

About Lakeland Financial

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.