International General Insurance Holdings Ltd. Announces — Dividend of $0.85 (NASDAQ:IGIC)

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a — dividend on Thursday, March 20th, Wall Street Journal reports. Stockholders of record on Friday, April 4th will be given a dividend of 0.85 per share on Tuesday, April 22nd. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, April 4th.

International General Insurance has decreased its dividend payment by an average of 36.4% per year over the last three years. International General Insurance has a payout ratio of 3.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International General Insurance to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 3.3%.

International General Insurance Price Performance

Shares of IGIC traded up $1.38 on Thursday, hitting $27.01. The company’s stock had a trading volume of 158,578 shares, compared to its average volume of 88,870. The company has a 50 day moving average price of $25.28 and a 200 day moving average price of $23.11. International General Insurance has a fifty-two week low of $12.83 and a fifty-two week high of $27.76. The company has a market capitalization of $1.24 billion, a PE ratio of 8.83 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC) last announced its earnings results on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The company had revenue of $135.20 million for the quarter, compared to analysts’ expectations of $136.20 million. On average, equities analysts forecast that International General Insurance will post 3.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on IGIC shares. Royal Bank of Canada boosted their target price on shares of International General Insurance from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Oppenheimer upped their price objective on International General Insurance from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th.

About International General Insurance

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance.