Genworth MI Canada Inc (TSE:MIC) Declares $0.51 Quarterly Dividend

Genworth MI Canada Inc (TSE:MIC) announced a quarterly dividend on Thursday, May 9th, TickerTech reports. Shareholders of record on Wednesday, May 29th will be given a dividend of 0.51 per share on Wednesday, May 29th. This represents a $2.04 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, May 9th.

Shares of TSE MIC traded down C$0.11 during trading hours on Thursday, reaching C$41.41. 362,047 shares of the stock traded hands, compared to its average volume of 186,384. The stock has a market cap of $3.69 billion and a price-to-earnings ratio of 8.78. The company has a current ratio of 0.26, a quick ratio of 0.20 and a debt-to-equity ratio of 11.23. Genworth MI Canada has a 52-week low of C$38.18 and a 52-week high of C$46.80.

In other news, Senior Officer Philip Adrian Virgil Mayers sold 6,400 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of C$41.95, for a total value of C$268,480.00. Following the completion of the transaction, the insider now owns 20,912 shares in the company, valued at C$877,258.40.

A number of brokerages have commented on MIC. National Bank Financial lifted their price target on Genworth MI Canada from C$51.00 to C$53.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. TD Securities lifted their price objective on Genworth MI Canada from C$47.00 to C$48.00 in a research report on Tuesday, February 5th. BMO Capital Markets lifted their price target on Genworth MI Canada from C$52.00 to C$54.00 in a research report on Thursday, February 7th. Finally, Royal Bank of Canada lifted their price objective on Genworth MI Canada from C$47.00 to C$48.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of C$49.60.

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Genworth MI Canada Company Profile

Genworth MI Canada Inc, through its subsidiaries, operates as a private residential mortgage insurer in Canada. It provides mortgage default insurance to residential mortgage homebuyers, lenders, brokers, and realtors. The company was founded in 1995 and is headquartered in Oakville, Canada.

See Also: Fundamental Analysis

Dividend History for Genworth MI Canada (TSE:MIC)

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