Community Trust Bancorp Hikes Dividend 22.6%, Adds Special Payout
CTBI sits 55% above its 52-week low of $50.25.
Summary
Community Trust Bancorp raised its quarterly dividend by 22.6% to $0.65 per share and declared a $0.06 special dividend. This follows record Q2 earnings of $29.6 million ($1.64 EPS) reported two weeks ago, driven by margin expansion and loan growth. The dividend increase signals confidence in sustained profitability, though nonperforming loans ticked up $9 million sequentially last quarter. The stock is trading near its 52-week high of $78.60, reflecting strong momentum.
At the time of this announcement, CTBI was trading at $78.12 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $50.25 to $78.60. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.