City Holding Company (NASDAQ:CHCO) Increases Dividend to $1.00 Per Share

City Holding Company (NASDAQ:CHCO) declared a quarterly dividend on Wednesday, September 30th. Investors of record on Thursday, October 15th will be given 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 increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 6 years. City has a payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. Equities research 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

Shares of CHCO stock opened at $139.12 on Thursday. The firm has a market capitalization of $1.95 billion, a price-to-earnings 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. The business has a fifty day moving average of $143.76 and a 200 day moving average of $132.40. City has a 1 year low of $113.21 and a 1 year high of $148.99.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $81.52 million during the quarter, compared to analysts’ expectations of $80.64 million. City had a return on equity of 16.34% and a net margin of 32.58%. As a group, research analysts expect that City will post 9.32 earnings per share for the current 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.