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BOSTON – Safety Insurance Group, Inc. (NASDAQ:SAFT) announced a quarterly cash dividend of $0.90 per common share, as approved by the company's board of directors. The dividend is expected to be paid on March 15, 2024 to shareholders of record as of the close of business on March 1, 2024.
The announcement comes ahead of the company's plan to release its fourth quarter and full-year 2023 financial results on February 27, 2024. Safety Insurance Group also plans to file an annual report on Form 10-K with the Securities and Exchange Commission by February 29th. Additionally, the Company plans to hold its 2024 Annual Meeting of Stockholders on May 15, 2024 at 10:00 a.m. in Boston, Massachusetts.
Safety Insurance Group operates primarily in Massachusetts, New Hampshire and Maine and offers a variety of property and casualty insurance products. These include personal passenger and commercial auto insurance, homeowners, home fire, umbrella, and business owner insurance.
The company urges stockholders to refer to its most recent Form 10-K filing with the SEC on February 28, 2023 for comprehensive financial information for the year ended December 31, 2022. .
The information in this article is based on the press release.
Investment Pro Insights
As Safety Insurance Group (NASDAQ:SAFT) prepares to issue a quarterly dividend, investors are keeping a close eye on the company's financial health and stock price performance. According to real-time data from InvestingPro, Safety Insurance Group has a market capitalization of $1.29 billion, reflecting the company's position in the property and casualty insurance sector. The company's P/E, which is an indicator of the current stock price relative to earnings per share, was at a high level of 41.79 as of the past 12 months ending in Q3 2023, indicating that it is valued at a premium compared to the market average. It is shown.
Safety Insurance Group has demonstrated a strong track record of returning value to shareholders, maintaining its dividend for 21 consecutive years despite a high earnings multiple. This consistency is a testament to the company's financial management and commitment to its shareholders. Looking at the recent performance, the company's stock is trading near its 52-week high, with the price being 98.08% of this all-time high, highlighting the company's positive momentum.
According to InvestingPro Tips, Safety Insurance Group faces low gross margins with trailing 12-month margins of 5.05% as of Q3 2023, but cash flow is sufficient to cover interest payments. It is said that it is covered. This financial stability is very important for investors looking for reliable dividend stocks. Moreover, the company has experienced significant price appreciation over the past six months, with a total return of 26.73%, reflecting strong investor confidence.
For those looking to learn more about Safety Insurance Group's financials and stock performance, InvestingPro has additional tips and insights.Use coupon code pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions. Nine more of his InvestingPro tips are available to help investors understand a company's prospects more comprehensively and make informed investment decisions.
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