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

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a — dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.85 per share on Tuesday, April 22nd. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend 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 payout ratio of 3.1% 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 Trading Up 5.4 %

Shares of NASDAQ:IGIC traded up $1.38 during midday trading on Thursday, hitting $27.01. The company had a trading volume of 158,578 shares, compared to its average volume of 88,870. International General Insurance has a 12 month low of $12.83 and a 12 month high of $27.76. The firm has a fifty day simple moving average of $25.28 and a 200 day simple moving average of $23.11. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 8.83 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC) last released its earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. Equities analysts forecast that International General Insurance will post 3.18 EPS for the current fiscal year.

Analyst Ratings Changes

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