MGIC Investment Corporation (NYSE:MTG) Announces $0.15 Quarterly Dividend

Key Points

• MGIC Investment Corporation has announced a quarterly dividend of $0.15 per share, to be paid on November 20th to investors of record on November 6th, reflecting a 2.2% dividend yield.
• The company has a strong payout ratio of 17.1%, indicating its earnings sufficiently cover the dividend, with projected earnings per share of $2.81 for the next year.
• MGIC's recent earnings report showed $0.82 earnings per share, exceeding analysts' estimates, although revenue decreased slightly by 0.3% compared to the same quarter last year.

MGIC Investment Corporation (NYSE:MTG - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Investors of record on Thursday, November 6th will be given a dividend of 0.15 per share by the insurance provider on Thursday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 6th.

MGIC Investment has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect MGIC Investment to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 18.5%.

MGIC Investment Price Performance

MTG opened at $27.43 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13. MGIC Investment has a 12 month low of $21.94 and a 12 month high of $29.01. The company has a fifty day simple moving average of $27.79 and a 200 day simple moving average of $26.63. The stock has a market cap of $6.32 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.98 and a beta of 0.88.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.12. The firm had revenue of $304.25 million during the quarter, compared to analyst estimates of $306.25 million. MGIC Investment had a net margin of 62.58% and a return on equity of 14.73%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. On average, research analysts expect that MGIC Investment will post 2.71 EPS for the current year.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.

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