Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) declared a quarterly dividend on Friday, February 14th, Wall Street Journal reports. Shareholders of record on Monday, February 24th will be given a dividend of 0.25 per share by the financial services provider on Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, February 21st. This is a positive change from Consolidated-Tomoka Land’s previous quarterly dividend of $0.13.
Consolidated-Tomoka Land has increased its dividend by an average of 42.4% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Consolidated-Tomoka Land has a payout ratio of 94.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.
NYSEAMERICAN CTO traded down $1.06 during trading hours on Friday, reaching $62.33. 19,594 shares of the company traded hands, compared to its average volume of 21,461. Consolidated-Tomoka Land has a 12 month low of $57.33 and a 12 month high of $68.64.
Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $20.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $18.75 by $1.29. The business had revenue of $11.96 million during the quarter, compared to the consensus estimate of $11.46 million.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Consolidated-Tomoka Land from a “sell” rating to a “hold” rating in a report on Tuesday. B. Riley reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Consolidated-Tomoka Land in a report on Tuesday, December 10th.
About Consolidated-Tomoka Land
Consolidated-Tomoka Land Co, together with its subsidiaries, operates as a diversified real estate operating company in the United States. The company operates through four segments: Income Properties, Commercial Loan Investments, Real Estate Operations, and Golf Operations. It owns and manages commercial real estate properties.
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