W.R. Berkley Corporation (NYSE:WRB) Announces Quarterly Dividend of $0.10

Key Points

• W.R. Berkley declared a quarterly dividend of $0.10 per share, payable September 30 to shareholders of record on September 21; the annualized dividend is $0.40, with a 0.6% yield.
• The company has raised its dividend for 23 consecutive years, while its 8.4% payout ratio indicates substantial earnings coverage.
• W.R. Berkley’s latest quarterly results exceeded expectations, with earnings of $1.27 per share versus the $1.08 consensus and revenue of $3.72 billion versus $3.28 billion expected.

W.R. Berkley Corporation (NYSE:WRB - Get Free Report) announced a quarterly dividend on Thursday, September 10th. Investors of record on Monday, September 21st will be paid a dividend of 0.10 per share by the insurance provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, September 21st.

W.R. Berkley has increased its dividend payment by an average of 0.5%per year over the last three years and has increased its dividend annually for the last 23 consecutive years. W.R. Berkley has a dividend payout ratio of 8.4% meaning its dividend is sufficiently covered by earnings. Analysts expect W.R. Berkley to earn $4.82 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 8.3%.

W.R. Berkley Trading Up 0.1%

NYSE WRB opened at $70.01 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $25.99 billion, a PE ratio of 14.38, a P/E/G ratio of 1.74 and a beta of 0.28. W.R. Berkley has a one year low of $62.87 and a one year high of $78.96. The firm's fifty day moving average is $71.00 and its two-hundred day moving average is $68.76.

W.R. Berkley (NYSE:WRB - Get Free Report) last announced its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.19. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.28 billion. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.44%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Analysts expect that W.R. Berkley will post 4.87 earnings per share for the current year.

About W.R. Berkley

W.R. Berkley Corporation NYSE: WRB is an insurance holding company that operates through a group of property and casualty insurance businesses. The company provides commercial insurance and reinsurance products for businesses, organizations and other insurance companies, with an emphasis on specialty and complex risks.

Its offerings include commercial property and casualty coverage, excess and surplus lines, professional liability, workers' compensation, commercial automobile insurance, marine insurance and other specialty products.

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