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

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

International General Insurance has decreased its dividend 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. 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 $0.10 annual dividend with an expected future payout ratio of 3.3%.

International General Insurance Stock Up 5.4 %

Shares of International General Insurance stock opened at $27.01 on Friday. 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 has a twelve month low of $12.83 and a twelve month high of $27.76. The company’s fifty day moving average is $25.34 and its 200 day moving average is $23.13.

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

Wall Street Analysts Forecast Growth

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