Global Indemnity Group, LLC (NASDAQ:GBLI) has announced a quarterly dividend payment of $0.35 per share, set to be disbursed to shareholders on December 30, 2023. The dividend will be paid to investors who are on record by December 22, 2023, marking a notable return for those invested in the insurance provider.
This dividend represents an annualized payout of $1.40, resulting in a yield of approximately 4.9%. The upcoming payment continues a trend for Global Indemnity Group, which has increased its dividends by an average of 0.1% annually over the past three years. Remarkably, the company has managed to raise its dividend every year for the last 11 years.
Investors can take comfort in the company’s payout ratio of 39.3%, indicating that earnings sufficiently cover the dividend. Analysts project that Global Indemnity Group will earn approximately $3.48 per share in the coming year, suggesting the company will maintain its ability to cover the dividend with an expected future payout ratio of 40.2%.
Market Performance Overview
As of the market opening on Friday, shares of Global Indemnity Group were trading at $28.55. The company’s 50-day moving average stands at $28.65, while its 200-day moving average is $29.86. With a market capitalization of $408.84 million and a price-to-earnings (P/E) ratio of 14.87, Global Indemnity Group has experienced a 12-month low of $25.88 and a high of $37.00.
About Global Indemnity Group
Global Indemnity Group, LLC operates worldwide through its subsidiaries, providing specialty property and casualty insurance, as well as reinsurance products. The company functions in two primary segments: Penn-America and Non-Core Operations. It distributes property and general liability products tailored for small commercial businesses via a network of wholesale general agents and program administrators.
This consistent dividend policy and solid financial footing reflect Global Indemnity Group’s commitment to returning value to its shareholders while maintaining a stable operational framework. Investors are encouraged to monitor the developments as the dividend payment date approaches.
