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This Company has Never Reduced its Dividend Since its IPO; Trading Ex-Dividend on June 2, 2017

Thursday, 01 June 2017 08:15 AM

Active Wall Street

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LONDON, UK / ACCESSWIRE / June 1, 2017 / Active Wall St. announces its dividend coverage for EMC Insurance Group Inc. (NASDAQ: EMCI). Shares of EMC Insurance Group Inc. (NASDAQ: EMCI) will begin trading ex-dividend on June 02, 2017. In order to qualify for a dividend check, investors must own the stock on or before June 01, 2017. Register with us now for your free membership at:

http://www.activewallst.com/register/

Today, AWS is promoting its ex-dividend coverage on EMCI. Get our free coverage by signing up to:

http://www.activewallst.com/register/

Dividend Declared

On May 25, 2017, EMC Insurance Group announced that its board of directors declared a quarterly cash dividend of $0.21 per share of common stock payable on June 13, 2017, to stockholders of record as of June 06, 2017. The Company has declared a quarterly dividend since becoming a publicly held company in February 1982, and it has never reduced its dividend.

EMC Insurance Group has a dividend payout ratio of 57.09% meaning the Company distributes $0.57 for every $1.00 earned, and the dividend is sufficiently covered by earnings. As per analysts' estimates, EMC Insurance Group is expected to report earnings of $1.53 per share in the coming year, which means that the Company should be able to comfortably cover its annualized dividend.

Moreover, as on March 31, 2017, EMC Insurance Group's consolidated assets totaled $1.6 billion, including $1.5 billion in the investment portfolio, and stockholders' equity totaled $564.3 million. With this liquidity cushion the Company would be able to absorb any fluctuations in earnings and pay its dividend without interruption.

About EMCI

EMC Insurance Group Inc. is an insurance holding company that provides property and casualty insurance, and reinsurance products in the United States. The Company was founded in 1974 and is headquartered in Des Moines, Iowa. EMC Insurance Group Inc. is a subsidiary of Employers Mutual Casualty Company. It operates through two segments: Property and Casualty Insurance, and Reinsurance.

The Property and Casualty Insurance segment writes commercial and personal lines of insurance products. The Reinsurance segment provides reinsurance for other insurers and reinsurers.

EMC Insurance Group Inc. offers its products to small and medium-sized businesses, institutions, and individual consumers through independent insurance agents.

Recent Financial News

On May 05, 2017, EMC Insurance Group reported net income of $6.8 million, or $0.32 per share for Q1 2017, compared to $14.7 million, or $0.70 per share, for Q1 2016. The Company's non-GAAP operating income, which excludes realized investment gains/losses from net income, totaled $7.2 million, or $0.34 per share, for the reported quarter compared to $15.4 million, or $0.74 per share, for the prior year's same quarter.

The Company's GAAP combined ratio was 100.5% in Q1 2017 compared to 92.7% in Q1 2016. EMC Insurance Group's Premiums earned increased 1.2% to $144.5 million for the reported quarter from $142.7 million in the prior year's comparable quarter.

Stock Performance

At the close of trading session on Wednesday, May 31, 2017, EMC Insurance's stock price slightly fell 0.15% to end the day at $27.12. A total volume of 25.84 thousand shares were exchanged during the session, which was above the 3-month average volume of 22.50 thousand shares. The Company's share price has gained 1.50% in the past twelve months. The Company's shares are trading at a PE ratio of 14.93 and have a dividend yield of 3.10%. The stock currently has a market cap of $574.13 million.

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