Old Republic International Co. (NYSE:ORI) Announces Special Dividend of $2.00

Old Republic International Co. (NYSE:ORI) declared a special dividend on Friday, December 13th,RTT News reports. Investors of record on Friday, January 3rd will be paid a dividend of 2.00 per share by the insurance provider on Wednesday, January 15th.

Old Republic International has increased its dividend by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 44 years. Old Republic International has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 34.4%.

Old Republic International Price Performance

Shares of NYSE ORI opened at $36.80 on Friday. The firm’s 50 day simple moving average is $36.63 and its 200-day simple moving average is $34.29. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 12.69 and a beta of 0.86. Old Republic International has a 12 month low of $27.19 and a 12 month high of $39.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.28 and a quick ratio of 0.28.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their target price on Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

About Old Republic International

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.