Old Republic International Co. Announces Special Dividend of $2.00 (NYSE:ORI)

Old Republic International Co. (NYSE:ORI) declared a special dividend on Friday, December 13th,RTT News reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 2.00 per share by the insurance provider on Wednesday, January 15th. The ex-dividend date is Friday, January 3rd.

Old Republic International has increased its dividend by an average of 5.3% annually over the last three years and has increased its dividend every year for the last 44 years. Old Republic International has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 34.4%.

Old Republic International Price Performance

Shares of NYSE:ORI opened at $36.79 on Friday. Old Republic International has a 52 week low of $27.19 and a 52 week high of $39.27. The company has a 50-day moving average price of $36.65 and a 200 day moving average price of $34.35. The company has a market cap of $9.33 billion, a P/E ratio of 12.69 and a beta of 0.86. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price target on Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 21st.

Old Republic International Company Profile

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.