International General Insurance Holdings Ltd. (NASDAQ:IGIC) Declares Quarterly Dividend of $0.03

International General Insurance Holdings Ltd. (NASDAQ:IGIC) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders of record on Tuesday, December 3rd will be paid a dividend of 0.025 per share on Wednesday, December 18th. This represents a $0.10 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, December 3rd.

International General Insurance has decreased its dividend by an average of 23.7% per year over the last three years. International General Insurance has a payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.1 %

Shares of International General Insurance stock opened at $25.94 on Monday. The business has a fifty day simple moving average of $21.71 and a 200-day simple moving average of $17.89. International General Insurance has a fifty-two week low of $11.51 and a fifty-two week high of $27.00. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 8.48 and a beta of 0.21.

International General Insurance (NASDAQ:IGIC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. The company had revenue of $138.10 million during the quarter. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. Analysts anticipate that International General Insurance will post 2.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Oppenheimer initiated coverage on International General Insurance in a report on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price on the stock.

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.