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W. R. Berkley (WRB) Ups Dividend, OK's Special Dividend
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The board of directors of W.R. Berkley Corporation (WRB - Free Report) recently approved a 15.3% hike in its quarterly dividend, reflecting the 3-for-2 common stock split implemented on Mar 23, 2022. Concurrently, the board approved a special cash dividend of 50 cents per share.
Shareholders of record on Jun 27, 2022 will receive the hiked payout and the special divided on Jul 7, 2022.
The recent dividend hike marks the 17th consecutive increase since 2005 while the special dividend marks the 14th such payout in the last 13 years. Backed by its operational strength, this Zacks Rank #1 (Strong Buy) insurer has a solid track record of increasing dividends each year and has been paying dividends uninterruptedly since 1976.
The recent increase takes the annual dividend to 40 cents per share. Based on the closing share price of $67.01 as of Jun 15, the increased payout translates to a dividend yield of 0.6%, better than the industry average of 0.4%.
Being one of the largest commercial lines writers in the United States, WRB has been enhancing investors’ value through prudent capital deployment in the form of dividend hikes, special dividends and share buybacks. Such initiatives not only reflect the operational and financial strength of the company but also make the stock attractive to yield-seeking investors. Return on equity (ROE), a profitability measure of how efficiently a company utilizes its shareholders' money, was 15.8%, better than the industry average of 5.7%. WRB aims to achieve a 15% ROE over the long term.
Including recent approvals, the total capital returned to shareholders till now this year is estimated to be about $182 million. A strong capital position as evident from a solid balance sheet with sufficient liquidity and strong cash flows supports such payouts.
Shares of W.R. Berkley have gained 20.5% year to date against the industry’s decrease of 5.5%. Its solid insurance business, strong international presence and sturdy financial position should help the company retain the momentum.
Image Source: Zacks Investment Research
Given the solid capital level of the insurance industry and improving operating backdrop favoring strong operational performance, insurers like Unum Group (UNM - Free Report) , Everest Re Group, Ltd. and Chubb Limited (CB - Free Report) have resorted to effective capital deployment to enhance shareholder value.
The board of directors of Unum Group approved a 10% increase in its dividend to 33 cents per share. This recent dividend hike marked the 13th increase in the last 12 years. Over the last 11 years, Unum Group has prudently shifted its business mix by increasing the proportion of voluntary products, adding Dental and Vision and divesting Closed Disability Block. Management remains focused on moving to a mix of businesses with higher growth and stable margins. This should help this leading disability income writer and the second-largest writer of voluntary business in the United States retain the momentum.
Everest Re Group’s board of directors has approved a 6.4% hike in its quarterly dividend to $1.65 per share. RE boasts a consistent increase in dividends, with the metric witnessing a nine-year CAGR (2014-2022) of 9.2%. Everest Re’s consistent share buyback is also driving the bottom line.
Everest Re is likely to benefit from its capital adequacy, financial flexibility, long-term operating performance and traditional risk management capabilities. Everest Re boasts a strong capital position with sufficient cash generation capabilities.
Chubb’s board of directors approved a 3.75% hike in its dividend to $3.32 per share and a $2.5 billion share buyback program. This insurer boasts one of the largest product portfolios in the global insurance industry. CB is focusing on cyber insurance that has immense room for growth, putting in efforts to capitalize on the potential of middle-market businesses, both domestic and international, with a traditional core package as well as a specialty product. Improvement in the pricing environment, new business growth and high renewal rates along with other positives, should help it continue with effective capital deployment.
Shares of UNM, RE and CB have gained 36.4%, 0.5% and 3.1% year to date.
Image: Bigstock
W. R. Berkley (WRB) Ups Dividend, OK's Special Dividend
The board of directors of W.R. Berkley Corporation (WRB - Free Report) recently approved a 15.3% hike in its quarterly dividend, reflecting the 3-for-2 common stock split implemented on Mar 23, 2022. Concurrently, the board approved a special cash dividend of 50 cents per share.
Shareholders of record on Jun 27, 2022 will receive the hiked payout and the special divided on Jul 7, 2022.
The recent dividend hike marks the 17th consecutive increase since 2005 while the special dividend marks the 14th such payout in the last 13 years. Backed by its operational strength, this Zacks Rank #1 (Strong Buy) insurer has a solid track record of increasing dividends each year and has been paying dividends uninterruptedly since 1976.
The recent increase takes the annual dividend to 40 cents per share. Based on the closing share price of $67.01 as of Jun 15, the increased payout translates to a dividend yield of 0.6%, better than the industry average of 0.4%.
Being one of the largest commercial lines writers in the United States, WRB has been enhancing investors’ value through prudent capital deployment in the form of dividend hikes, special dividends and share buybacks. Such initiatives not only reflect the operational and financial strength of the company but also make the stock attractive to yield-seeking investors. Return on equity (ROE), a profitability measure of how efficiently a company utilizes its shareholders' money, was 15.8%, better than the industry average of 5.7%. WRB aims to achieve a 15% ROE over the long term.
Including recent approvals, the total capital returned to shareholders till now this year is estimated to be about $182 million. A strong capital position as evident from a solid balance sheet with sufficient liquidity and strong cash flows supports such payouts.
Shares of W.R. Berkley have gained 20.5% year to date against the industry’s decrease of 5.5%. Its solid insurance business, strong international presence and sturdy financial position should help the company retain the momentum.
Image Source: Zacks Investment Research
Given the solid capital level of the insurance industry and improving operating backdrop favoring strong operational performance, insurers like Unum Group (UNM - Free Report) , Everest Re Group, Ltd. and Chubb Limited (CB - Free Report) have resorted to effective capital deployment to enhance shareholder value.
The board of directors of Unum Group approved a 10% increase in its dividend to 33 cents per share. This recent dividend hike marked the 13th increase in the last 12 years. Over the last 11 years, Unum Group has prudently shifted its business mix by increasing the proportion of voluntary products, adding Dental and Vision and divesting Closed Disability Block. Management remains focused on moving to a mix of businesses with higher growth and stable margins. This should help this leading disability income writer and the second-largest writer of voluntary business in the United States retain the momentum.
Everest Re Group’s board of directors has approved a 6.4% hike in its quarterly dividend to $1.65 per share. RE boasts a consistent increase in dividends, with the metric witnessing a nine-year CAGR (2014-2022) of 9.2%. Everest Re’s consistent share buyback is also driving the bottom line.
Everest Re is likely to benefit from its capital adequacy, financial flexibility, long-term operating performance and traditional risk management capabilities. Everest Re boasts a strong capital position with sufficient cash generation capabilities.
Chubb’s board of directors approved a 3.75% hike in its dividend to $3.32 per share and a $2.5 billion share buyback program. This insurer boasts one of the largest product portfolios in the global insurance industry. CB is focusing on cyber insurance that has immense room for growth, putting in efforts to capitalize on the potential of middle-market businesses, both domestic and international, with a traditional core package as well as a specialty product. Improvement in the pricing environment, new business growth and high renewal rates along with other positives, should help it continue with effective capital deployment.
Shares of UNM, RE and CB have gained 36.4%, 0.5% and 3.1% year to date.
You can see the complete list of today’s Zacks #1 Rank stocks here.