As per Mercury General Corporation (NYSE:MCY)’s news release on 2016-08-15, its shareholders will be awarded cash dividend of $0.62 per share. The last press release informed on the record date and cash payout date, which is set at 2016-09-15 and 2016-09-29, respectively.
The stock will start trading ex-dividend from 2016-09-13, until, which the stockholders are obligated to keep the holdings so as to entitle for the dividend. Assessing the dividend distribution style, it was seen last year Mercury General Corporation (NYSE:MCY) disbursed $0.62 in dividend against distribution of $0.62, a year earlier.
It highlights a sharp difference in cash payouts of the two years. This shows a major deviation of 0.4061 percent.
A dividend is a willing distribution of a part of any company’s earnings, determined by the respective board, to a specific class of its stockholders. Dividends can be delivered as cash payments, or also as shares of stock.
The dividend rate may be cited in terms of the dollar each share gets (dividends per share), or It can even be quoted in percentage of the current market price, also referred as the dividend yield. A firm’s net profits can be assigned to shareholders through a dividend, or reserved within the firm as retained earnings.
The market professionals who evaluate the firm’s technical and financial parameters have estimated Mercury General Corporation (NYSE:MCY) to reach a price target of $46.5. It is an average estimate given by 2 analysts studying the stock. The estimates divulged that the stock can hit a high of $51. The low price is $42 for next fiscal while the arithmetic mean is fixed at 3.33.
Eyeing Earnings Mercury General Corporation (NYSE:MCY) is likely to publicize quarterly numbers around 2016-11-07 for the quarter ending 2016-09-30. The quarterly EPS projection is $0.55 for the period ending on 2016-09-30.
In last quarter ended 2015-12-31, Mercury General Corporation (NYSE:MCY) earnings came at $0.35 suggesting a deviation of $-0.16. The brokerages directed EPS of $0.51 for the quarter.
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