Citizens & Northern Co. (NASDAQ:CZNC) to Issue Quarterly Dividend of $0.28

Citizens & Northern Co. (NASDAQ:CZNC) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Shareholders of record on Monday, October 28th will be given a dividend of 0.28 per share by the financial services provider on Friday, November 8th. This represents a $1.12 annualized dividend and a yield of 5.89%. The ex-dividend date is Monday, October 28th.

Citizens & Northern has raised its dividend payment by an average of 1.2% annually over the last three years. Citizens & Northern has a payout ratio of 62.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Citizens & Northern to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 62.2%.

Citizens & Northern Stock Down 0.8 %

Shares of NASDAQ:CZNC opened at $19.01 on Friday. The company has a market capitalization of $292.30 million, a P/E ratio of 12.51 and a beta of 0.45. The stock’s fifty day simple moving average is $19.42 and its 200-day simple moving average is $18.51. Citizens & Northern has a 52-week low of $16.50 and a 52-week high of $23.50. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Citizens & Northern (NASDAQ:CZNC) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Citizens & Northern had a return on equity of 9.06% and a net margin of 15.75%. The firm had revenue of $27.49 million for the quarter, compared to analysts’ expectations of $28.10 million. As a group, equities research analysts forecast that Citizens & Northern will post 1.66 earnings per share for the current fiscal year.

About Citizens & Northern

Citizens & Northern Corporation operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers. Its deposit products include various types of checking accounts, passbook and statement savings, money market accounts, interest checking accounts, and individual retirement accounts, as well as certificates of deposit; and lending products, including commercial, mortgage, and consumer loans, as well as specialized instruments, such as commercial letters-of-credit.