Why Colony Bankcorp (CBAN) is a Top Dividend Stock for Your Portfolio

Company Overview - Colony Bankcorp (CBAN) is headquartered in Fitzgerald and operates in the Finance sector [8] - The stock has experienced a price change of 6.47% since the beginning of the year [8] Dividend Information - The current annualized dividend is $0.45, reflecting a 2.3% increase from the previous year [3] - Over the past five years, Colony Bankcorp has increased its dividend five times, averaging an annual increase of 6.18% [3] - The current payout ratio is 34%, indicating that 34% of its trailing 12-month earnings per share (EPS) is distributed as dividends [3] - The company is currently paying a dividend of $0.11 per share, resulting in a dividend yield of 3.18%, which is higher than the Banks - Southeast industry's yield of 2.45% and the S&P 500's yield of 1.58% [8] Earnings Growth Expectations - For the fiscal year 2024, the Zacks Consensus Estimate for Colony Bankcorp's earnings is projected at $1.32 per share, representing a year-over-year growth rate of 2.33% [6] Investment Appeal - Colony Bankcorp is viewed as an attractive dividend play and a compelling investment opportunity, holding a Zacks Rank of 2 (Buy) [7]