HAMILTON, Bermuda - Everest Group, Ltd., a global leader in underwriting, insurance, and reinsurance solutions, has declared an increase in its regular quarterly dividend. The company's Board of Directors announced the dividend will rise from $1.75 to $2.00 per common share. This change reflects a commitment to providing value to shareholders and is indicative of the company's financial health.
Shareholders of record as of May 29, 2024, will be eligible for the increased dividend, which is scheduled to be paid out on or before June 14, 2024. This decision to increase the dividend payout comes as Everest continues to demonstrate a solid track record in disciplined underwriting, risk management, and capital stewardship over its 50-year history.
Everest's operations span across various global markets, and the company prides itself on addressing the complex challenges of its customers. The company's common stock, listed as NYSE: EG, is part of the S&P 500 index, reflecting its standing within the financial community.
This dividend increase is a move that may interest investors as it suggests confidence in the ongoing profitability and financial stability of Everest Group. The company has built a reputation for its expertise and commitment to serving the needs of its clients, shareholders, and communities.
The information regarding the dividend increase is based on a press release statement from Everest Group, Ltd.
InvestingPro Insights
Everest Group's recent announcement of a dividend increase is a testament to its financial robustness and commitment to shareholder returns. In line with this, InvestingPro provides additional context with real-time data and insights that may be of interest to investors considering the company's stock.
According to InvestingPro data, Everest Group is currently trading at a low earnings multiple, with a P/E ratio of 5.57. This could indicate that the company's shares might be undervalued relative to its earnings, potentially offering an attractive entry point for value investors. The company's market capitalization stands at $16.3 billion, reflecting its significant presence in the insurance industry.
InvestingPro Tips suggest that Everest Group is a prominent player in the Insurance industry and has maintained dividend payments for 30 consecutive years, reinforcing its reputation for providing consistent shareholder value. Despite a challenging environment, analysts predict the company will be profitable this year, which aligns with the decision to increase its dividend payout.
For those looking to delve deeper into Everest Group's financials and future prospects, InvestingPro offers additional tips and metrics. There are currently 7 more tips available for Everest Group, which can be accessed by visiting InvestingPro. To enhance your investing strategy with these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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