Assurant, Inc. (NYSE:AIZ) to Issue Quarterly Dividend of $0.88

Key Points

• Assurant declared a quarterly dividend of $0.88 per share, payable September 28 to shareholders of record August 31. The dividend implies an annualized payout of $3.52 and a yield of approximately 1.3%.
• The company has increased its dividend for 21 consecutive years, with a current payout ratio of 18.1%, suggesting earnings comfortably cover the dividend.
• Assurant reported quarterly EPS of $6.41, beating estimates by $1.24, while revenue rose 9.4% year over year to $3.45 billion.

Assurant, Inc. (NYSE:AIZ - Get Free Report) declared a quarterly dividend on Thursday, August 13th. Shareholders of record on Monday, August 31st will be given a dividend of 0.88 per share by the financial services provider on Monday, September 28th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, August 31st.

Assurant has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Assurant has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Assurant to earn $23.12 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 15.2%.

Assurant Stock Down 0.0%

Shares of NYSE:AIZ opened at $281.06 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $13.86 billion, a PE ratio of 13.42 and a beta of 0.55. The firm's 50-day moving average is $273.31 and its two-hundred day moving average is $245.91. Assurant has a 1 year low of $205.01 and a 1 year high of $303.94.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $5.17 by $1.24. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.56 earnings per share. Analysts predict that Assurant will post 21.61 EPS for the current year.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

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