Mercury General Corporation (MCY) to Issue Quarterly Dividend of $0.32 on June 25th

Mercury General Corporation (NYSE:MCY) announced a quarterly dividend on Friday, May 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of 0.3175 per share by the insurance provider on Thursday, June 25th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, June 11th.

Mercury General has decreased its dividend by an average of 0.1%annually over the last three years. Mercury General has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of Mercury General stock opened at $101.19 on Tuesday. The firm has a fifty day simple moving average of $96.24 and a 200-day simple moving average of $92.59. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.22. Mercury General has a 1-year low of $62.25 and a 1-year high of $103.86. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 6.67 and a beta of 0.91.

Mercury General (NYSE:MCY) last issued its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $1.35. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.46 billion. On average, sell-side analysts expect that Mercury General will post 11.38 earnings per share 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.