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

Mercury General Co. (NYSE:MCY) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Thursday, June 13th will be given a dividend of 0.3175 per share by the insurance provider on Thursday, June 27th. This represents a $1.27 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, June 13th. This is a boost from Mercury General’s previous quarterly dividend of $0.32.

Mercury General has decreased its dividend by an average of 20.5% per year over the last three years.

Mercury General Stock Performance

MCY stock opened at $54.26 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a 50 day moving average price of $50.59 and a 200 day moving average price of $42.35. Mercury General has a fifty-two week low of $26.15 and a fifty-two week high of $57.12. The stock has a market capitalization of $3.00 billion, a PE ratio of 13.95 and a beta of 0.77.

Mercury General (NYSE:MCY) last posted its quarterly earnings data on Tuesday, February 13th. The insurance provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.05 by $1.10. Mercury General had a net margin of 4.48% and a return on equity of 10.37%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Analysts forecast that Mercury General will post 2.9 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Mercury General from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th.

About Mercury General

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.