International General Insurance Holdings Ltd. (NASDAQ:IGIC) Declares -- Dividend of $0.85

International General Insurance Holdings Ltd. (NASDAQ:IGIC - Get Free Report) announced a -- dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.85 per share on Tuesday, April 22nd. This represents a yield of 0.4%. The ex-dividend date is Friday, April 4th.

International General Insurance has decreased its dividend payment by an average of 36.4% annually over the last three years. International General Insurance has a payout ratio of 3.1% 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 Performance

Shares of International General Insurance stock traded up $0.66 on Monday, reaching $26.89. The stock had a trading volume of 47,601 shares, compared to its average volume of 89,030. International General Insurance has a fifty-two week low of $12.83 and a fifty-two week high of $27.76. The business's 50-day moving average price is $25.40 and its two-hundred day moving average price is $23.26. The stock has a market cap of $1.24 billion, a P/E ratio of 8.79 and a beta of 0.26.

International General Insurance (NASDAQ:IGIC - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The firm had revenue of $135.20 million during the quarter, compared to analyst estimates of $136.20 million. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. As a group, equities analysts forecast that International General Insurance will post 3.18 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

Several research analysts have commented on the company. Oppenheimer lifted their price target on International General Insurance from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Royal Bank of Canada upped their target price on shares of International General Insurance from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th.

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.