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

Lakeland Financial Corporation (NASDAQ:LKFN) declared a quarterly dividend on Tuesday, October 13th. Stockholders of record on Sunday, October 25th will be paid a dividend of $0.52 per share by the financial services provider on Thursday, November 5th. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, October 23rd.

Lakeland Financial has increased its dividend by an average of 0.1% annually 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. Equities analysts expect Lakeland Financial to earn $4.50 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 46.2%.

Lakeland Financial Price Performance

NASDAQ:LKFN traded down $0.14 during mid-day trading on Wednesday, reaching $56.73. The stock had a trading volume of 78,883 shares, compared to its average volume of 185,488. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.01 and a beta of 0.77. Lakeland Financial has a 1-year low of $54.36 and a 1-year high of $64.55. The stock’s 50 day simple moving average is $59.80 and its two-hundred day simple moving average is $60.28.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Lakeland Financial had a return on equity of 14.67% and a net margin of 26.04%. The firm had revenue of $70.87 million during the quarter, compared to analyst estimates of $72.11 million. During the same period in the previous year, the company earned $1.04 earnings per share. Sell-side analysts anticipate that Lakeland Financial will post 4.37 EPS for the current fiscal year.

Lakeland Financial Company Profile

Lakeland Financial Corporation is the holding company for Lake City Bank, an Indiana-based community bank headquartered in Warsaw. Founded in 1872, Lake City Bank serves individuals, businesses, nonprofit organizations and municipalities throughout northern Indiana.

The bank provides a broad range of financial products and services, including consumer and commercial deposit accounts, residential and commercial loans, agricultural lending, treasury management and cash-management services.