The board of Hanover Bancorp, Inc. (NASDAQ:HNVR) has announced that it will pay a dividend of $0.10 per share on the 13th of November. Including this payment, the dividend yield on the stock will be 2.1%, which is a modest boost for shareholders’ returns.
See our latest analysis for Hanover Bancorp
Hanover Bancorp’s Earnings Will Easily Cover The Distributions
The dividend yield is a little bit low, but sustainability of the payments is also an important part of evaluating an income stock.
Hanover Bancorp has a short history of paying out dividends, with its current track record at only 2 years. Despite the company’s shorter dividend history however, calculating for its payout ratio of 20% shows that Hanover Bancorp is able to comfortably pay dividends.
Looking forward, EPS is forecast to rise by 58.3% over the next 3 years. The future payout ratio could be 15% over that time period, according to analyst estimates, which is a good look…
