Dividend Coverage: This Insurance Company has Raised Dividend for Thirteen Consecutive Years; Will Trade Ex-Dividend on August 24, 2017
LONDON, UK / ACCESSWIRE / August 23, 2017 /Pro-Trader Daily takes a closer look at Assurant, Inc. (NYSE: AIZ) as the Company's stock will begin trading ex-dividend on August 24, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on August 23, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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On August 07th, 2017, Assurant announced that its Board of Directors declared a quarterly dividend of $0.53 per share of common stock. The dividend will be payable on September 19, 2017, to stockholders of record as of the close of business on August 28, 2017.
Assurant's indicated dividend represents a yield of 2.12% compared to the average dividend yield of 3.23% for the Financial sector. The Company has raised its dividend for thirteen consecutive years.
Assurant has a dividend payout ratio of 32.3%, which indicates that the Company distributes approximately $0.32 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Assurant is forecasted to report earnings of $7.15 for the next year which is more than three times the Company's annualized dividend of $2.12.
As of June 30, 2017, Assurant had cash and cash equivalents worth $12.49 billion. The Company's total debt as on that date was $1.14 billion. The strong financial position indicates the Company's ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Assurant
On August 15, 2017, Assurant announced the appointment of Carey S. Roberts to the role of Executive Vice President, Chief Legal Officer, and Corporate Secretary, effective October 30, 2017.
In her new position, Roberts, 46, will be responsible for Assurant's global legal department, including compliance, government relations, internal audit, and all other legal matters affecting the Company. As corporate secretary, Roberts will serve as liaison to Assurant's Board of Directors and advise on corporate governance matters. She joins Assurant's senior leadership team and Management Committee as she succeeds Bart Schwartz, who earlier this year announced his intention to retire at year-end.
Assurant is a global leader in risk management solutions. Millions of consumers count on Assurant's innovative products, services, and support for major purchases like homes, cars, appliances, mobile devices and funerals. Assurant partners with leading companies that make, sell, or finance those purchases to take great care of their customers and help their business grow. A member of the Fortune 500, Assurant has a market presence in 16 countries worldwide. As of June 30, 2017, the Company had $30 billion in assets and $6 billion in annualized revenue.
On Tuesday, August 22, 2017, the stock closed the trading session at $99.90, slightly up 0.52% from its previous closing price of $99.38. A total volume of 212.96 thousand shares have exchanged hands. Assurant's stock price surged 0.41% in the last three months, 1.53% in the past six months, and 15.21% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 7.58%. The stock is trading at a PE ratio of 13.13 and has a dividend yield of 2.12%. At Tuesday's closing price, the stock's net capitalization stands at $5.40 billion.
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