Universal Insurance Holdings Inc Announces Special Dividend of $0.13 (NYSE:UVE)

Universal Insurance Holdings Inc (NYSE:UVE) announced a special dividend on Thursday, November 6th. Shareholders of record on Friday, December 5th will be given a dividend of 0.13 per share by the insurance provider on Friday, December 12th. This represents a yield of 195.0%. The ex-dividend date of this dividend is Friday, December 5th.

Universal Insurance has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Universal Insurance to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 24.2%.

Universal Insurance Price Performance

Shares of UVE stock traded up $0.36 during trading hours on Friday, reaching $33.13. The stock had a trading volume of 56,107 shares, compared to its average volume of 207,258. Universal Insurance has a 12 month low of $18.72 and a 12 month high of $33.27. The firm has a market capitalization of $929.12 million, a PE ratio of 7.81 and a beta of 0.77. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $27.71 and its 200 day simple moving average is $26.14.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.26. The firm had revenue of $400.03 million during the quarter, compared to analyst estimates of $366.36 million. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%. On average, equities research analysts predict that Universal Insurance will post 1.66 EPS for the current year.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.