Assurant, Inc. to Issue Quarterly Dividend of $0.60 (NYSE:AIZ)

Assurant, Inc. (NYSE:AIZ) declared a quarterly dividend on Friday, July 19th, RTT News reports. Shareholders of record on Monday, August 26th will be paid a dividend of 0.60 per share by the financial services provider on Monday, September 16th. This represents a $2.40 annualized dividend and a yield of 2.16%.

Assurant has raised its dividend by an average of 18.5% annually over the last three years and has increased its dividend every year for the last 15 years. Assurant has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Assurant to earn $9.52 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 25.2%.

Shares of NYSE AIZ traded down $0.75 during midday trading on Friday, hitting $111.24. The company’s stock had a trading volume of 176,993 shares, compared to its average volume of 467,848. The company’s fifty day moving average price is $106.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.47 and a quick ratio of 0.47. Assurant has a 1 year low of $82.31 and a 1 year high of $112.76. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 19.18 and a beta of 0.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.08. Assurant had a net margin of 3.46% and a return on equity of 7.23%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the firm posted $2.14 earnings per share. The business’s revenue for the quarter was up 48.6% compared to the same quarter last year. As a group, equities analysts forecast that Assurant will post 8.59 EPS for the current fiscal year.

Separately, UBS Group set a €117.00 ($136.05) price objective on shares of SAP and gave the company a “neutral” rating in a research note on Tuesday, May 21st.

About Assurant

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

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Dividend History for Assurant (NYSE:AIZ)

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