Cathay General Bancorp (CATY) to Issue Quarterly Dividend of $0.38 on June 9th

by · The Cerbat Gem

Cathay General Bancorp (NASDAQ:CATY – Get Free Report) announced a quarterly dividend on Friday, May 15th. Shareholders of record on Thursday, May 28th will be given a dividend of 0.38 per share by the bank on Tuesday, June 9th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, May 28th.

Cathay General Bancorp has raised its dividend payment by an average of 0.0%per year over the last three years. Cathay General Bancorp has a payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Cathay General Bancorp to earn $5.73 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 26.5%.

Cathay General Bancorp Price Performance

NASDAQ:CATY opened at $57.27 on Tuesday. Cathay General Bancorp has a 12 month low of $41.83 and a 12 month high of $58.00. The stock has a 50 day moving average of $53.15 and a two-hundred day moving average of $51.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3.84 billion, a P/E ratio of 11.81 and a beta of 0.87.

Cathay General Bancorp (NASDAQ:CATY – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. Cathay General Bancorp had a return on equity of 11.37% and a net margin of 23.79%.The company had revenue of $213.20 million during the quarter, compared to analyst estimates of $211.27 million. During the same period in the previous year, the business earned $0.98 EPS. Cathay General Bancorp’s quarterly revenue was up 14.4% on a year-over-year basis. On average, analysts expect that Cathay General Bancorp will post 5.4 earnings per share for the current fiscal year.

Cathay General Bancorp Company Profile

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Cathay General Bancorp is a bank holding company headquartered in Los Angeles, California, trading on NASDAQ under the symbol CATY. Its principal subsidiary, Cathay Bank, provides a full suite of financial services to commercial, institutional and retail clients. As a community-focused institution, the company emphasizes relationship banking and tailored solutions for businesses and individuals.

Founded in 1962 by a group of Chinese American entrepreneurs, Cathay has expanded from a single branch operation in downtown Los Angeles into one of the largest Asian-American banks in the United States.

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