Cathay General Bancorp (NASDAQ:CATY) Declares $0.38 Quarterly Dividend

Cathay General Bancorp (NASDAQ:CATY) declared a quarterly dividend on Friday, May 15th. Investors of record on Thursday, May 28th will be paid a dividend of 0.38 per share by the bank on Tuesday, June 9th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, May 28th.

Cathay General Bancorp has increased its dividend by an average of 0.0%annually over the last three years. Cathay General Bancorp has a dividend payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cathay General Bancorp to earn $5.73 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 26.5%.

Cathay General Bancorp Price Performance

Shares of NASDAQ:CATY opened at $57.27 on Tuesday. Cathay General Bancorp has a 52-week low of $41.83 and a 52-week high of $58.00. The stock has a market cap of $3.84 billion, a P/E ratio of 11.81 and a beta of 0.87. The business’s 50 day moving average is $53.15 and its 200 day moving average is $51.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.04.

Cathay General Bancorp (NASDAQ:CATY) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Cathay General Bancorp had a return on equity of 11.37% and a net margin of 23.79%.The company had revenue of $213.20 million for the quarter, compared to analysts’ expectations of $211.27 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Cathay General Bancorp’s revenue was up 14.4% compared to the same quarter last year. Sell-side analysts predict that Cathay General Bancorp will post 5.4 EPS for the current year.

Cathay General Bancorp Company Profile

Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.