Mercury General Co. Declares Quarterly Dividend of $0.32 (NYSE:MCY)

Mercury General Co. (NYSE:MCY) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Thursday, December 12th will be given a dividend of 0.317 per share by the insurance provider on Thursday, December 26th. This represents a $1.27 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, December 12th.

Mercury General has decreased its dividend payment by an average of 20.5% per year over the last three years. Mercury General has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mercury General to earn $6.00 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 21.2%.

Mercury General Price Performance

Mercury General stock opened at $71.76 on Thursday. Mercury General has a 12 month low of $30.17 and a 12 month high of $73.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50 day simple moving average of $63.83 and a 200-day simple moving average of $58.61. The stock has a market capitalization of $3.97 billion, a PE ratio of 12.44 and a beta of 0.81.

Mercury General (NYSE:MCY) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.29. Mercury General had a return on equity of 14.91% and a net margin of 6.36%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company posted ($0.47) earnings per share. Equities analysts predict that Mercury General will post 4 earnings per share for the current year.

Mercury General Company Profile

Mercury General Corporation, together with its subsidiaries, engages in writing personal automobile insurance in the United States. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance products. Its automobile insurance products include collision, property damage, bodily injury, comprehensive, personal injury protection, underinsured and uninsured motorist, and other hazards; and homeowners insurance products comprise dwelling, liability, personal property, and other coverages.