LONDON, UK / ACCESSWIRE / August 29, 2017 / Pro-Trader Daily takes a closer look at Safety Insurance Group, Inc. (NASDAQ: SAFT) as the Company's stock will begin trading ex-dividend on August 30, 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 29, 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 02, 2017, Safety Insurance Group's Board of Directors approved and declared an increase in the quarterly cash dividend from $0.70 to $0.80 per share on the issued and outstanding common stock, payable on September 15, 2017, to shareholders of record at the close of business on September 01, 2017.
Safety Insurance Group's indicated dividend represents a yield of 4.44%, which is substantially above the average dividend yield of 3.31% for the financial sector. Safety Insurance Group raised its dividend for the first time in three years.
Safety Insurance Group currently has a dividend payout ratio of 66.67%, which means that the Company distributes approximately $0.67 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 analyst s' estimates, Safety Insurance Group is forecasted to report earnings of $4.15 for the next year which is comfortably ahead of its annualized dividend of $3.20.
As of June 30, 2017, Safety Insurance Group's cash and cash equivalents totaled $34.30 million compared to $20.05 million as on December 31, 2016. The Company's totaled assets were worth $1.82 billion compared to total liabilities of $1.12 billion as on June 30, 2017. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Safety Insurance Group
On August 02, 2017, Safety Insurance Group reported net income for the quarter ended June 30, 2017, of $21.1 million, or $1.39 per diluted share, compared to net income of $21.4 million, or $1.41 per diluted share, for the comparable 2016 period.
Safety Insurance Group's direct written premiums for the quarter ended June 30, 2017, increased by $5.6 million, or 2.6%, to $227.0 million from $221.4 million for the comparable 2016 period. Net written premiums for the quarter ended June 30, 2017, increased by $5.9 million, or 2.8%, to $213.8 million from $207.9 million for the comparable 2016 period. The Company's loss, expense, and combined ratios calculated under US GAAP for the quarter ended June 30, 2017 were 60.7%, 31.6%, and 92.3%, respectively, compared to 61.4%, 30.7%, and 92.1%, respectively, for the comparable 2016 period.
About Safety Insurance Group
Safety Insurance Group, based in Boston, Massachusetts, is the parent of Safety Insurance Company, Safety Indemnity Insurance Company, and Safety Property and Casualty Insurance Company. Operating exclusively in Massachusetts, New Hampshire, and Maine, Safety Insurance Group is a leading writer of property and casualty insurance products, including private passenger automobile, commercial automobile, homeowners, dwelling fire, umbrella and business owner policies.
Safety Insurance's share price finished yesterday's trading session at $71.35, declining 1.11%. A total volume of 42.40 thousand shares have exchanged hands, which was higher than the 3-month average volume of 41.23 thousand shares. The Company's stock price advanced 7.94% in the last three months, 0.49% in the past six months, and 7.65% in the previous twelve months. Shares of the Company have a PE ratio of 17.02 and have a dividend yield of 4.48%. The stock currently has a market cap of $1.08 billion.
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