Mercury General Co. Plans Quarterly Dividend of $0.32 (NYSE:MCY)

Mercury General Co. (NYSE:MCY) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Thursday, December 12th will be given a dividend of 0.317 per share by the insurance provider on Thursday, December 26th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 12th.

Mercury General has decreased its dividend payment by an average of 20.5% annually over the last three years. Mercury General has a dividend payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mercury General to earn $6.00 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 21.2%.

Mercury General Trading Down 0.9 %

Shares of MCY stock opened at $71.19 on Thursday. The firm has a 50 day moving average price of $63.83 and a two-hundred day moving average price of $58.61. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $3.94 billion, a PE ratio of 12.44 and a beta of 0.81. Mercury General has a 12-month low of $30.17 and a 12-month high of $73.72.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.29. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.33 billion. Mercury General had a net margin of 6.36% and a return on equity of 14.91%. During the same period last year, the business posted ($0.47) earnings per share. As a group, analysts predict that Mercury General will post 4 earnings per share for the current year.

About Mercury General

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.