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

Key Points

• International General Insurance Holdings Ltd. has declared a quarterly dividend of $0.05 per share, with a yield of 0.8%, payable to investors of record on September 1st.
• The company reported earnings of $0.51 per share in the last quarter, missing estimates, and had a revenue of $132.90 million, which was below analyst expectations.
• Institutional investors own 54.24% of International General Insurance, with significant recent acquisitions from firms like LPL Financial and JPMorgan Chase & Co.

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Monday, September 1st will be paid a dividend of 0.05 per share on Tuesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th.

International General Insurance has a dividend payout ratio of 3.2% indicating that its dividend is sufficiently covered by earnings. Equities 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

NASDAQ:IGIC traded up $0.0510 during trading hours on Tuesday, hitting $24.0610. 17,728 shares of the company were exchanged, compared to its average volume of 117,954. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 8.72 and a beta of 0.27. International General Insurance has a 52-week low of $16.25 and a 52-week high of $27.76. The company's 50 day moving average price is $23.64 and its 200-day moving average price is $24.37.

International General Insurance (NASDAQ:IGIC - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $132.90 million for the quarter, compared to analysts' expectations of $140.40 million. International General Insurance had a return on equity of 17.40% and a net margin of 23.52%. On average, equities analysts predict that International General Insurance will post 3.18 earnings per share for the current year.

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.