Mercury General Corporation (NYSE:MCY) Plans $0.32 Quarterly Dividend

Mercury General Corporation (NYSE:MCY) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Thursday, September 10th will be given a dividend of 0.3175 per share by the insurance provider on Thursday, September 24th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, September 10th.

Mercury General has decreased its dividend by an average of 0.1%per year over the last three years. Mercury General has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mercury General to earn $10.75 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 11.8%.

Mercury General Stock Down 0.9%

Shares of NYSE:MCY opened at $106.28 on Wednesday. Mercury General has a 1-year low of $69.82 and a 1-year high of $113.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market cap of $5.89 billion, a P/E ratio of 7.01 and a beta of 0.90. The firm has a fifty day moving average price of $104.81 and a 200 day moving average price of $96.69.

Mercury General (NYSE:MCY) last posted its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.99. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.52 billion. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. Sell-side analysts predict that Mercury General will post 11.5 EPS for the current year.

About Mercury General

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.