United Fire Group, Inc. (NASDAQ: UFCS) has declared a common stock quarterly cash dividend of $0.16 per share, payable on September 13, 2024, to shareholders of record as of August 30, 2024. This marks the 226th consecutive quarterly dividend paid by UFG, dating back to March 1968.
In terms of financial performance, the company's net income for the most recent quarter was $29.5 million, up from $22.3 million in the same period last year. Earnings per share also saw an increase, rising to $1.18 from $0.89 in the previous year's quarter.
UFG's total revenue for the quarter was $326.7 million, compared to $290.4 million in the same quarter last year, indicating an uptick in the company's topline performance.
Additionally, the company's book value per share stood at $35.92, up from $33.77 in the previous year's quarter, reflecting an increase in the company's net worth per share.
On the operational front, UFG's combined ratio, a key metric in the insurance industry that measures underwriting profitability, improved to 92.1% from 94.5% in the same period last year, indicating more efficient underwriting practices.
UFG's investment portfolio also saw growth, with the total investment income for the quarter reaching $20.6 million, up from $18.7 million in the previous year's quarter.
The market has reacted to these announcements by moving the company's shares 0.1% to a price of $19.63. For the full picture, make sure to review United Fire's 8-K report.
