International General Insurance Holdings Ltd. (NASDAQ:IGIC) Plans Quarterly Dividend of $0.03

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Tuesday, December 3rd will be given a dividend of 0.025 per share on Wednesday, December 18th. This represents a $0.10 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, December 3rd.

International General Insurance has decreased its dividend payment by an average of 23.7% per year over the last three years. International General Insurance has a payout ratio of 3.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.1 %

International General Insurance stock opened at $25.95 on Friday. The firm has a 50 day moving average price of $21.71 and a 200-day moving average price of $17.87. International General Insurance has a twelve month low of $11.51 and a twelve month high of $27.00. The company has a market capitalization of $1.19 billion, a P/E ratio of 8.48 and a beta of 0.21.

International General Insurance (NASDAQ:IGIC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.11. The business had revenue of $138.10 million during the quarter. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. Equities analysts expect that International General Insurance will post 2.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Oppenheimer assumed coverage on shares of International General Insurance in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price for the company.

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.