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

International General Insurance Holdings Ltd. (NASDAQ:IGIC) announced a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Stockholders 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 dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, December 3rd.

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

International General Insurance Price Performance

International General Insurance stock traded up $0.34 during midday trading on Monday, reaching $25.07. 185,106 shares of the company traded hands, compared to its average volume of 78,431. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 8.33 and a beta of 0.21. The business has a 50 day moving average of $20.20 and a two-hundred day moving average of $17.07. International General Insurance has a 12 month low of $11.35 and a 12 month high of $25.50.

International General Insurance (NASDAQ:IGIC) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.11. The business had revenue of $138.10 million for the quarter. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised their target price on shares of International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

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.