MGIC Investment Corporation (MTG) to Issue Quarterly Dividend of $0.17 on August 20th

MGIC Investment Corporation (NYSE:MTG – Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Wednesday, August 5th will be paid a dividend of 0.17 per share by the insurance provider on Thursday, August 20th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 5th. This is a 13.3% increase from MGIC Investment’s previous quarterly dividend of $0.15.

MGIC Investment has increased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 6 consecutive years. MGIC Investment has a dividend payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MGIC Investment to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.8%.

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MGIC Investment Stock Performance

NYSE MTG opened at $30.04 on Monday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 2.05 and a beta of 0.66. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. MGIC Investment has a twelve month low of $24.69 and a twelve month high of $31.89. The stock has a fifty day simple moving average of $27.42 and a 200 day simple moving average of $26.95.

MGIC Investment (NYSE:MTG – Get Free Report) last announced its earnings results on Wednesday, July 29th. The insurance provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. MGIC Investment had a return on equity of 13.90% and a net margin of 59.20%.The firm had revenue of $295.39 million for the quarter, compared to the consensus estimate of $297.54 million. During the same period in the previous year, the business earned $0.82 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts expect that MGIC Investment will post 3.09 EPS for the current year.

About MGIC Investment

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MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.

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