MGIC Investment Corporation (MTG) to Issue Quarterly Dividend of $0.15 on March 6th

MGIC Investment Corporation (NYSE:MTG) announced a quarterly dividend on Tuesday, January 27th. Shareholders of record on Tuesday, February 17th will be given a dividend of 0.15 per share by the insurance provider on Friday, March 6th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, February 17th.

MGIC Investment has increased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 6 years. MGIC Investment has a dividend payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MGIC Investment to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 21.4%.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $26.69 on Friday. MGIC Investment has a 12 month low of $21.94 and a 12 month high of $29.97. The company has a market cap of $5.97 billion, a P/E ratio of 8.50, a P/E/G ratio of 2.11 and a beta of 0.83. The business’s 50 day moving average is $27.97 and its two-hundred day moving average is $27.80. The company has a quick ratio of 1.48, a current ratio of 0.78 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. The business had revenue of $298.65 million for the quarter, compared to the consensus estimate of $308.19 million. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. MGIC Investment’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. On average, equities analysts expect that MGIC Investment will post 2.71 EPS for the current year.

About MGIC Investment

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.