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

MGIC Investment Corporation (NYSE:MTG) declared a quarterly dividend on Thursday, July 23rd. Shareholders 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) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date 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 payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. MGIC Investment has a dividend payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MGIC Investment to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 18.3%.

MGIC Investment Stock Performance

Shares of MTG opened at $29.65 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $27.01 and its 200-day moving average price is $26.91. MGIC Investment has a 52 week low of $24.69 and a 52 week high of $29.97. The stock has a market cap of $6.27 billion, a P/E ratio of 9.41, a P/E/G ratio of 2.00 and a beta of 0.67.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. MGIC Investment had a return on equity of 14.01% and a net margin of 59.63%.The company had revenue of $297.08 million during the quarter, compared to analyst estimates of $303.12 million. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts anticipate that MGIC Investment will post 3.05 earnings per share for the current fiscal year.

MGIC Investment announced that its board has approved a share repurchase program on Thursday, April 23rd that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 12.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.