Genworth MI Canada Inc (TSE:MIC) Raises Dividend to $0.54 Per Share

Genworth MI Canada Inc (TSE:MIC) declared a quarterly dividend on Thursday, November 7th, TickerTech reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.54 per share on Wednesday, November 27th. This represents a $2.16 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Thursday, November 7th. This is an increase from Genworth MI Canada’s previous quarterly dividend of $0.51.

Shares of Genworth MI Canada stock traded up C$0.13 during trading on Wednesday, hitting C$54.16. 61,619 shares of the stock traded hands, compared to its average volume of 178,247. The firm has a market cap of $4.61 billion and a P/E ratio of 11.90. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 11.57. Genworth MI Canada has a 52-week low of C$38.18 and a 52-week high of C$54.41. The stock’s fifty day simple moving average is C$52.67 and its 200 day simple moving average is C$46.86.

MIC has been the topic of several research reports. BMO Capital Markets raised their price target on Genworth MI Canada from C$54.00 to C$57.00 in a research note on Thursday, August 1st. TD Securities cut their target price on Genworth MI Canada from C$57.00 to C$56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. National Bank Financial lifted their target price on Genworth MI Canada from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada upgraded Genworth MI Canada from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$48.00 to C$51.00 in a research note on Tuesday, July 9th. Finally, CIBC cut their target price on Genworth MI Canada from C$57.00 to C$56.00 in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of C$55.60.

In other news, Director Brian Leo Hurley sold 60,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$52.07, for a total transaction of C$3,124,200.00. Following the sale, the director now owns 73,028 shares in the company, valued at C$3,802,567.96. Also, Senior Officer Philip Adrian Virgil Mayers sold 19,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of C$49.25, for a total value of C$935,750.00. Following the sale, the insider now owns 21,229 shares in the company, valued at approximately C$1,045,528.25. Insiders sold 82,834 shares of company stock worth $4,248,506 in the last quarter.

About Genworth MI Canada

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.

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Dividend History for Genworth MI Canada (TSE:MIC)

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