Independent Bank Corp. (INDB) To Go Ex-Dividend on September 28th

Independent Bank Corp. (NASDAQ:INDB) announced a quarterly dividend on Thursday, September 17th. Shareholders of record on Monday, September 28th will be paid a dividend of 0.64 per share by the bank on Friday, October 9th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 28th.

Independent Bank has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Independent Bank has a dividend payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Independent Bank to earn $8.38 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 30.5%.

Independent Bank Stock Down 0.2%

Shares of NASDAQ:INDB opened at $82.24 on Friday. The stock’s 50-day moving average is $83.94 and its 200 day moving average is $80.67. Independent Bank has a 1 year low of $63.33 and a 1 year high of $87.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $3.90 billion, a PE ratio of 14.84 and a beta of 0.76.

Independent Bank (NASDAQ:INDB) last issued its quarterly earnings data on Thursday, July 16th. The bank reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Independent Bank had a return on equity of 9.19% and a net margin of 20.31%.The company had revenue of $253.32 million during the quarter, compared to analysts’ expectations of $257.50 million. Sell-side analysts anticipate that Independent Bank will post 7.11 EPS for the current year.

About Independent Bank

Independent Bank Corp. is a bank holding company headquartered in Rockland, Massachusetts. Its principal subsidiary, Rockland Trust Company, provides banking and financial services to individuals, families, businesses and institutions.

Rockland Trust offers a range of consumer and commercial banking products, including checking and savings accounts, residential and commercial lending, mortgages, home equity financing, business loans, cash-management services and online and mobile banking.