Old Republic International Corporation Plans Quarterly Dividend of $0.32 (NYSE:ORI)

Key Points

• Old Republic International declared a quarterly dividend of $0.315 per share, payable September 15 to shareholders of record on September 4. The dividend implies an annualized payout of $1.26 and a yield of approximately 2.9%.
• The company has raised its dividend for 45 consecutive years, with a current payout ratio of 36.4%; analysts expect earnings to comfortably cover the projected annual dividend.
• Old Republic’s shares rose 0.2% to $42.84. In its latest quarter, revenue increased 5.2% year over year to $2.50 billion, although earnings per share of $0.76 fell short of analyst expectations.

Old Republic International Corporation (NYSE:ORI - Get Free Report) announced a quarterly dividend on Friday, August 14th. Investors of record on Friday, September 4th will be given a dividend of 0.315 per share by the insurance provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 4th.

Old Republic International has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 45 years. Old Republic International has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 39.1%.

Old Republic International Stock Up 0.2%

ORI traded up $0.08 on Friday, hitting $42.84. 746,135 shares of the company were exchanged, compared to its average volume of 1,660,658. The stock's fifty day moving average is $41.20 and its 200-day moving average is $40.62. Old Republic International has a 12 month low of $36.65 and a 12 month high of $46.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $10.34 billion, a PE ratio of 10.13 and a beta of 0.58.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.03). The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Equities research analysts predict that Old Republic International will post 2.91 EPS for the current fiscal year.

About Old Republic International

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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