International General Insurance Holdings Ltd. (NASDAQ:IGIC) Announces Quarterly Dividend of $0.05

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) announced a quarterly dividend on Thursday, May 15th, NASDAQ Dividends reports. Shareholders of record on Monday, June 2nd will be given a dividend of 0.05 per share on Wednesday, June 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, June 2nd.

International General Insurance has decreased its dividend payment by an average of 36.4% annually over the last three years and has increased its dividend every year for the last 2 years. International General Insurance has a dividend payout ratio of 3.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect International General Insurance to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 3.3%.

International General Insurance Stock Performance

NASDAQ:IGIC traded down $0.13 during trading hours on Wednesday, reaching $22.86. The stock had a trading volume of 84,470 shares, compared to its average volume of 113,135. The stock has a market capitalization of $1.03 billion, a PE ratio of 7.47 and a beta of 0.25. The company has a 50 day moving average price of $24.04 and a two-hundred day moving average price of $24.75. International General Insurance has a 52 week low of $13.81 and a 52 week high of $27.76.

International General Insurance (NASDAQ:IGIC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.05). The company had revenue of $129.00 million during the quarter, compared to analysts' expectations of $135.50 million. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. Equities research analysts predict that International General Insurance will post 3.18 EPS for the current year.

Analyst Ratings Changes

IGIC has been the topic of a number of research reports. Royal Bank of Canada increased their price objective on shares of International General Insurance from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Oppenheimer lifted their target price on shares of International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 27th.

International General Insurance Company Profile

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance.