International General Insurance Holdings Ltd. (NASDAQ:IGIC) Plans Quarterly Dividend of $0.05

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Friday, March 13th will be given a dividend of 0.05 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, March 13th.

International General Insurance has a payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.20 annual dividend with an expected future payout ratio of 6.6%.

International General Insurance Price Performance

Shares of IGIC stock traded down $0.25 during trading on Wednesday, reaching $25.13. The company had a trading volume of 77,492 shares, compared to its average volume of 62,073. The firm’s 50 day simple moving average is $24.88 and its two-hundred day simple moving average is $24.00. International General Insurance has a one year low of $20.82 and a one year high of $27.76. The company has a market capitalization of $1.12 billion, a PE ratio of 9.11 and a beta of 0.15.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IGIC shares. Royal Bank Of Canada began coverage on shares of International General Insurance in a research report on Tuesday, December 16th. They set an “outperform” rating and a $28.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of International General Insurance in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $30.00.

International General Insurance Company Profile

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.