International General Insurance Holdings Ltd. (NASDAQ:IGIC) to Issue Quarterly Dividend of $0.05

International General Insurance Holdings Ltd. (NASDAQ:IGIC) declared a quarterly dividend on Tuesday, February 24th. Investors of record on Friday, March 13th will be paid a dividend of 0.05 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, March 13th.

International General Insurance has a payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. 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 $0.20 annual dividend with an expected future payout ratio of 6.6%.

International General Insurance Price Performance

IGIC traded down $0.15 during trading on Wednesday, reaching $25.24. The company had a trading volume of 65,245 shares, compared to its average volume of 61,829. The company has a market cap of $1.13 billion, a P/E ratio of 9.12 and a beta of 0.15. The business’s fifty day moving average price is $24.88 and its 200 day moving average price is $24.00. International General Insurance has a 12 month low of $20.82 and a 12 month high of $27.76.

International General Insurance announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 5th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.