Genworth MI Canada Inc (MIC) Plans Dividend Increase – $0.47 Per Share
Genworth MI Canada Inc (TSE:MIC) declared a quarterly dividend on Tuesday, February 6th, RTT News reports. Shareholders of record on Tuesday, February 20th will be given a dividend of 0.47 per share on Wednesday, March 7th. This represents a $1.88 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, February 15th. This is an increase from Genworth MI Canada’s previous quarterly dividend of $0.44.
Genworth MI Canada (TSE:MIC) opened at C$40.95 on Friday. Genworth MI Canada has a 52 week low of C$30.38 and a 52 week high of C$44.49. The stock has a market capitalization of $3,720.00, a PE ratio of 7.12 and a beta of 1.64.
Several equities analysts have issued reports on MIC shares. National Bank Financial lifted their target price on Genworth MI Canada from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 24th. Scotiabank lifted their target price on Genworth MI Canada from C$40.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Monday, November 6th. CIBC lowered Genworth MI Canada from an “outperform” rating to a “neutral” rating and lifted their target price for the company from C$45.00 to C$46.00 in a research note on Monday, November 6th. BMO Capital Markets lifted their target price on Genworth MI Canada from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, TD Securities lowered Genworth MI Canada from a “buy” rating to a “hold” rating and lifted their target price for the company from C$45.00 to C$46.00 in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$46.50.
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Genworth MI Canada Inc, through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, operates as a private-sector residential mortgage insurer. The Company provides mortgage default insurance to Canadian residential mortgage lenders. It underwrites mortgage insurance for residential properties in various provinces and territories of Canada.
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