International General Insurance Holdings Ltd. Plans Quarterly Dividend of $0.03 (NASDAQ:IGIC)

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.025 per share on Wednesday, December 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Tuesday, December 3rd.

International General Insurance has decreased its dividend payment by an average of 23.7% annually over the last three years. International General Insurance has a payout ratio of 3.3% 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 Stock Performance

Shares of IGIC opened at $25.94 on Monday. The company has a market capitalization of $1.19 billion, a PE ratio of 8.48 and a beta of 0.21. The company’s 50 day moving average price is $21.71 and its 200 day moving average price is $17.89. International General Insurance has a 52 week low of $11.51 and a 52 week high of $27.00.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.56 by $0.11. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The business had revenue of $138.10 million for the quarter. On average, equities analysts forecast that International General Insurance will post 2.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IGIC. Royal Bank of Canada raised their price target on International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer initiated coverage on shares of International General Insurance in a research report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price objective on the stock.

About International General Insurance

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.