International General Insurance Holdings Ltd. (IGIC) to Distribute Quarterly Dividend of $0.07 on December 2nd

International General Insurance Holdings Ltd. (NASDAQ:IGIC) declared a quarterly dividend on Monday, November 2nd. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.0750 per share on Wednesday, December 2nd. This represents a $0.30 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, November 17th.

International General Insurance has increased its dividend payment by an average of 0.6% per year over the last three years and has increased its dividend every year for the last 2 years. International General Insurance has a dividend payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International General Insurance to earn $3.12 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 9.6%.

International General Insurance Price Performance

Shares of International General Insurance stock opened at $25.02 on Wednesday. The business has a 50-day moving average of $25.20 and a 200-day moving average of $25.56. The company has a market capitalization of $1.07 billion, a PE ratio of 10.05 and a beta of 0.05. International General Insurance has a 1-year low of $21.00 and a 1-year high of $29.58.

International General Insurance (NASDAQ:IGIC) last announced its earnings results on Tuesday, November 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. International General Insurance had a return on equity of 17.03% and a net margin of 20.68%. The business had revenue of $140.00 million for the quarter, compared to analyst estimates of $121.50 million. On average, equities analysts expect that International General Insurance will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IGIC has been the topic of several analyst reports. Weiss Ratings upgraded International General Insurance from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Royal Bank Of Canada upped their target price on International General Insurance from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Zacks Research cut International General Insurance from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, International General Insurance currently has an average rating of “Hold” and a consensus price target of $30.00.

About International General Insurance

International General Insurance Holdings Ltd. (NASDAQ: IGIC) is a specialty insurance and reinsurance company that underwrites risks for commercial clients, brokers and other insurers. The company focuses on complex and specialized lines of business rather than broad consumer insurance products.

Its offerings include energy, property, engineering, marine, aviation, casualty, political violence and other specialty insurance products, along with treaty and facultative reinsurance. Coverage is designed for businesses and industries that may require tailored underwriting and risk-management solutions.

International General Insurance was established in 2001 and serves clients and insurance partners across international markets through underwriting operations in locations including Bermuda, London and Jordan.