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

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) declared a quarterly dividend on Thursday, May 15th, NASDAQ Dividends reports. Shareholders of record on Monday, June 2nd will be paid a dividend of 0.05 per share on Wednesday, June 18th. This represents a $0.20 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 2nd.

International General Insurance has decreased its dividend by an average of 36.4% annually over the last three years and has raised 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. Research 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 Price Performance

IGIC stock traded down $0.15 on Monday, reaching $23.19. 88,059 shares of the company were exchanged, compared to its average volume of 102,780. International General Insurance has a 12 month low of $13.81 and a 12 month high of $27.76. The stock's fifty day moving average price is $24.17 and its 200 day moving average price is $24.78. The firm has a market capitalization of $1.05 billion, a PE ratio of 7.58 and a beta of 0.24.

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

Wall Street Analyst Weigh In

Several analysts recently commented on IGIC shares. Royal Bank of Canada boosted their price target on International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Oppenheimer upped their price target on International General Insurance from $30.00 to $32.00 and gave the company an "outperform" rating in a research 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.