MGIC Investment Corporation (NYSE:MTG) to Issue Quarterly Dividend of $0.17

Key Points

• MGIC Investment declared a quarterly dividend of $0.17 per share, payable November 23 to shareholders of record November 12. The annualized dividend is $0.68 per share, yielding approximately 2.4%.
• The company has increased its dividend for six consecutive years, with a payout ratio of 22.4%, indicating earnings comfortably cover the dividend.
• MGIC Investment’s shares opened at $28.87, while its latest quarterly earnings of $0.87 per share exceeded analyst expectations of $0.76 despite a 2.9% year-over-year revenue decline.

MGIC Investment Corporation (NYSE:MTG - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.17 per share by the insurance provider on Monday, November 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, November 12th.

MGIC Investment has raised its dividend payment by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. MGIC Investment has a dividend payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MGIC Investment to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.2%.

MGIC Investment Stock Up 2.2%

NYSE MTG opened at $28.87 on Friday. MGIC Investment has a 12 month low of $24.69 and a 12 month high of $31.89. The company has a market capitalization of $5.92 billion, a P/E ratio of 8.80, a PEG ratio of 1.00 and a beta of 0.67. The company's 50 day simple moving average is $29.08 and its 200 day simple moving average is $27.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 1.19.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. The firm had revenue of $295.39 million for the quarter, compared to analyst estimates of $297.54 million. MGIC Investment had a net margin of 59.20% and a return on equity of 13.90%. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. Equities research analysts expect that MGIC Investment will post 3.22 earnings per share for the current fiscal year.

About MGIC Investment

MGIC Investment Corporation NYSE: MTG is a holding company whose principal subsidiary is Mortgage Guaranty Insurance Corporation (MGIC), a provider of private mortgage insurance in the United States. MGIC's insurance helps protect mortgage lenders and investors against losses when borrowers default, enabling qualified homebuyers to obtain mortgages with smaller down payments.

MGIC primarily offers primary mortgage insurance for residential loans, working with mortgage lenders, banks and other housing-finance institutions.

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