Insight into QNB’s Quarterly Dividend
QNB, on February 27, 2024, announced a declared $0.37 regular quarterly dividend per share ($1.48 annualized). The shares need to be acquired before the ex-div date of March 14, 2024, for eligibility. Shareholders of record by March 15, 2024, will receive the payment on March 28, 2024.
Historical Context of Dividend Yields
At the current share price of $24.45 per share, the stock offers a dividend yield of 6.05%. Looking back five years with weekly samples, the average dividend yield stood at 4.35%, with the lowest at 3.39% and the highest at 6.70%. It’s noteworthy that the current yield is significantly above the historical average by 1.98 standard deviations.
The company’s dividend payout ratio, at 0.57, signifies how much of the company’s income is distributed as dividends. A ratio above one indicates tapping into savings to sustain dividend payouts, hinting at potential financial strain. QNB’s 3-year dividend growth rate is a modest 0.06%, showcasing a gradual increase in returns over time.
Three funds or institutions currently report positions in QNB, a figure stable over the last quarter. The average portfolio weight across all funds invested in QNBC is 0.03%, reflecting a decline of 12.81%. Over the past three months, institutional ownership saw a 7.24% reduction to 26K shares.
Banc Funds Co holds 26K shares, accounting for 0.70% ownership, with a 7.80% decrease from its previous filing. Meanwhile, Huntington National Bank’s ownership remains at 0.00%. Understanding fund sentiment and shareholder activity provides a nuanced view of market dynamics surrounding QNB.
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