International General Insurance Holdings Ltd. (NASDAQ:IGIC) Shareholders to Get $0.07 Quarterly Dividend

Key Points

• International General Insurance declared a $0.075-per-share quarterly dividend, payable December 2 to shareholders of record November 17. That equates to $0.30 annually and a 1.2% yield.
• The dividend appears well covered: the payout ratio is 9.6%, and analysts expect $3.12 in earnings per share next year. The company has raised its dividend for two consecutive years.
• In its latest quarter, IGIC reported $0.67 per share in earnings, slightly above the $0.66 consensus, and revenue of $140 million versus a $121.5 million estimate.

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) announced a quarterly dividend on Monday, November 2nd. Stockholders of record on Tuesday, November 17th will be given a dividend of $0.0750 per share on Wednesday, December 2nd. This represents a $0.30 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 17th.

International General Insurance has raised its dividend by an average of 0.6% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. International General Insurance has a dividend payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect International General Insurance to earn $3.12 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 9.6%.

International General Insurance Trading Up 0.7%

NASDAQ IGIC opened at $25.02 on Wednesday. The company's 50-day moving average price is $25.20 and its 200-day moving average price is $25.56. The stock has a market cap of $1.07 billion, a PE ratio of 10.05 and a beta of 0.05. International General Insurance has a 12 month low of $21.00 and a 12 month high of $29.58.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. International General Insurance had a net margin of 20.68% and a return on equity of 17.03%. The company had revenue of $140.00 million for the quarter, compared to the consensus estimate of $121.50 million. As a group, sell-side analysts forecast that International General Insurance will post 2.57 earnings per share for the current year.

About International General Insurance

International General Insurance Holdings Ltd. NASDAQ: IGIC is a specialty insurance and reinsurance company that underwrites risks for commercial clients, brokers and other insurers. The company focuses on complex and specialized lines of business rather than broad consumer insurance products.

Its offerings include energy, property, engineering, marine, aviation, casualty, political violence and other specialty insurance products, along with treaty and facultative reinsurance. Coverage is designed for businesses and industries that may require tailored underwriting and risk-management solutions.

International General Insurance was established in 2001 and serves clients and insurance partners across international markets through underwriting operations in locations including Bermuda, London and Jordan.

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