International General Insurance Holdings Ltd. (NASDAQ:IGIC) Declares Quarterly Dividend of $0.08

International General Insurance Holdings Ltd. (NASDAQ:IGIC) declared a quarterly dividend on Thursday, May 14th. Stockholders of record on Thursday, May 28th will be given a dividend of 0.075 per share on Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 28th. This is a 50.0% increase from International General Insurance’s previous quarterly dividend of $0.05.

International General Insurance has raised its dividend by an average of 0.6%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. International General Insurance has a payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect International General Insurance to earn $3.20 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.3%.

International General Insurance Trading Up 1.7%

IGIC traded up $0.43 on Thursday, reaching $25.04. The company had a trading volume of 24,345 shares, compared to its average volume of 59,197. International General Insurance has a one year low of $20.82 and a one year high of $27.43. The company has a market capitalization of $1.07 billion, a P/E ratio of 9.04 and a beta of 0.14. The company has a fifty day moving average of $24.99 and a 200-day moving average of $24.50.

International General Insurance (NASDAQ:IGIC) last announced its earnings results on Tuesday, February 24th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. International General Insurance had a net margin of 23.68% and a return on equity of 17.68%. The business had revenue of $126.40 million for the quarter, compared to analyst estimates of $116.40 million. Research analysts predict that International General Insurance will post 2.8 EPS for the current year.

About International General Insurance

International General Insurance (NASDAQ:IGIC) is a global specialty insurer and reinsurer focused on underwriting a diverse portfolio of property and casualty risks. Headquartered in Pembroke, Bermuda, the company provides tailored risk solutions across a broad range of industry sectors. IGIC operates within the excess and surplus lines market, leveraging specialized expertise to cover complex and hard-to-place risks that fall outside the scope of standard commercial insurance.

Founded in 1988, IGIC has grown its product offering to include marine, energy, aviation, construction, professional liability and credit & surety lines.