Mercury General Corporation Plans Quarterly Dividend of $0.32 (NYSE:MCY)

Mercury General Corporation (NYSE:MCY) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Thursday, September 10th will be paid a dividend of 0.3175 per share by the insurance provider on Thursday, September 24th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 10th.

Mercury General has decreased its dividend by an average of 0.1%annually over the last three years. Mercury General has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mercury General to earn $10.75 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 11.8%.

Mercury General Stock Down 0.9%

MCY stock opened at $106.28 on Wednesday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $104.81 and its 200 day moving average price is $96.69. Mercury General has a 52 week low of $69.82 and a 52 week high of $113.06. The company has a market cap of $5.89 billion, a P/E ratio of 7.01 and a beta of 0.90.

Mercury General (NYSE:MCY) last posted its quarterly earnings results on Tuesday, August 4th. The insurance provider reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.99. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.52 billion. Mercury General had a net margin of 13.68% and a return on equity of 32.94%. On average, research analysts expect that Mercury General will post 11.5 earnings per share for the current fiscal year.

Mercury General Company Profile

Mercury General Corporation is a holding company headquartered in Los Angeles, California, that underwrites and markets property and casualty insurance products through its principal subsidiary, Mercury Insurance Company. Established in 1961, the company has built a reputation for offering a broad range of personal and commercial lines, with a focus on automobile coverage. Mercury General operates in key U.S. markets, deploying a mix of independent agents and direct distribution channels to serve policyholders.

The company’s product portfolio includes personal automobile insurance, homeowners and renters policies, as well as commercial automobile, business liability and umbrella insurance.