Mercury General Stock To Go Ex-dividend Tomorrow (MCY)
The ex-dividend date for Mercury General Corporation (NYSE:MCY) is tomorrow, December 13, 2011. Owners of shares as of market close today will be eligible for a dividend of 61 cents per share. At a price of $46.19 as of 9:30 a.m., the dividend yield is 5.4%.
NEW YORK ( TheStreet) -- The ex-dividend date for Mercury General Corporation (NYSE: MCY) is tomorrow, December 13, 2011. Owners of shares as of market close today will be eligible for a dividend of 61 cents per share. At a price of $46.19 as of 9:30 a.m. ET, the dividend yield is 5.4%. The average volume for Mercury General has been 242,800 shares per day over the past 30 days. Mercury General has a market cap of $2.47 billion and is part of the financial sector and insurance industry. Shares are up 8% year to date as of the close of trading on Friday. Mercury General Corporation, together with its subsidiaries, engages in writing private passenger and commercial automobile insurance in the United States. The company also writes homeowners, mechanical breakdown, fire, umbrella, and commercial automobile and property insurance. The company has a P/E ratio of 27.9, below the average insurance industry P/E ratio of 28.1 and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Mercury General as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Mercury General Ratings Report. See our dividend calendar or top-yielding stocks list.