Independent Bank Corp. (NASDAQ:INDB) Declares Quarterly Dividend of $0.59

by · The Cerbat Gem

Independent Bank Corp. (NASDAQ:INDB – Get Free Report) declared a quarterly dividend on Wednesday, December 10th. Investors of record on Monday, December 29th will be paid a dividend of 0.59 per share by the bank on Wednesday, January 7th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, December 29th.

Independent Bank has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Independent Bank has a payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Independent Bank to earn $6.70 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 35.2%.

Independent Bank Trading Up 0.4%

Shares of NASDAQ INDB traded up $0.28 during mid-day trading on Thursday, hitting $76.78. 20,102 shares of the company traded hands, compared to its average volume of 326,123. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.22. Independent Bank has a 1 year low of $52.15 and a 1 year high of $77.56. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 18.68 and a beta of 0.81. The business has a 50 day moving average of $69.70 and a two-hundred day moving average of $67.62.

Independent Bank (NASDAQ:INDB – Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The bank reported $1.01 earnings per share (EPS) for the quarter. Independent Bank had a return on equity of 7.19% and a net margin of 16.64%.The firm had revenue of $175.25 million for the quarter. On average, sell-side analysts anticipate that Independent Bank will post 5.41 earnings per share for the current fiscal year.

Independent Bank Company Profile

(Get Free Report)

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit.

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