Alterra Stock To Go Ex-dividend Tomorrow (ALTE)

NEW YORK (TheStreet) -- The ex-dividend date for Alterra Capital Holdings (Nasdaq:ALTE) is tomorrow, May 18, 2012. Owners of shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $23.29 as of 9:31 a.m. ET, the dividend yield is 2.4%. The average volume for Alterra has been 360,200 shares per day over the past 30 days. Alterra has a market cap of $2.33 billion and is part of the financial sector and insurance industry. Shares are down 1.5% year to date as of the close of trading on Wednesday. Alterra Capital Holdings Limited, together with its subsidiaries, provides specialty insurance and reinsurance products to corporations, public entities, and property and casualty insurers in North America, Europe, and internationally. The company has a P/E ratio of 12.7, equal to the average insurance industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Alterra as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Alterra Ratings Report. See our dividend calendar or top-yielding stocks list.

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