International General Insurance Holdings Ltd. (NASDAQ:IGIC) Declares — Dividend of $0.85

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a — dividend on Thursday, March 20th, Wall Street Journal reports. Stockholders of record on Friday, April 4th will be given a dividend of 0.85 per share on Tuesday, April 22nd. This represents a dividend yield of 0.4%. The ex-dividend date is Friday, April 4th.

International General Insurance has decreased its dividend payment by an average of 36.4% annually over the last three years. International General Insurance has a dividend payout ratio of 3.1% meaning 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

International General Insurance stock opened at $26.23 on Friday. International General Insurance has a one year low of $12.83 and a one year high of $27.76. The business has a fifty day moving average of $25.40 and a two-hundred day moving average of $23.19. The company has a market cap of $1.21 billion, a P/E ratio of 8.57 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The firm had revenue of $135.20 million during the quarter, compared to analysts’ expectations of $136.20 million. Sell-side analysts predict that International General Insurance will post 3.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IGIC. Oppenheimer lifted their price target on shares of International General Insurance from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Royal Bank of Canada lifted their price objective on International General Insurance from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th.

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.