International General Insurance Holdings Ltd. (NASDAQ:IGIC) to Issue $0.85 — Dividend

International General Insurance Holdings Ltd. (NASDAQ:IGIC) declared a — dividend on Wednesday, March 19th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.85 per share on Tuesday, April 22nd. This represents a yield of 0.4%. The ex-dividend date is Friday, April 4th.

International General Insurance has decreased its dividend by an average of 36.4% annually over the last three years. International General Insurance has a dividend payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.6 %

International General Insurance stock opened at $26.46 on Wednesday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 8.65 and a beta of 0.26. The stock’s fifty day simple moving average is $25.70 and its 200-day simple moving average is $23.68. International General Insurance has a twelve month low of $12.83 and a twelve month high of $27.76.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $135.20 million during the quarter, compared to the consensus estimate of $136.20 million. Sell-side analysts predict that International General Insurance will post 3.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Oppenheimer increased their target price on International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Royal Bank of Canada raised their price objective on shares of International General Insurance from $28.00 to $31.00 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.