DERIDDER, La. - AMERISAFE, Inc. (NASDAQ:AMSF), a specialty provider of workers' compensation insurance for high-hazard industries, on Monday announced an 8.8% increase in its quarterly dividend, raising it from $0.34 to $0.37 per share. The company's Board of Directors confirmed that the new dividend is payable on March 22, 2024, to shareholders on record as of March 8, 2024.
Since initiating its dividend program in 2013, AMERISAFE has returned $43.26 per share to its shareholders, which includes $10.01 in regular dividends and $33.25 in special dividends. This step reflects the company's ongoing commitment to delivering shareholder value.
AMERISAFE is known for offering workers' compensation insurance to small and mid-sized employers operating in hazardous fields such as construction, trucking, agriculture, and manufacturing. The company has a presence in 27 states and focuses on industries where the risk of work-related injuries is typically higher than average.
The announcement coincides with the release of additional information regarding the company's financial performance for the fourth quarter and the full year of 2023. Shareholders and interested parties can access these details in the earnings release issued today alongside the dividend news.
This news is based on a press release statement from AMERISAFE, Inc. and provides shareholders with the latest dividend information directly from the company.
InvestingPro Insights
AMERISAFE, Inc.'s recent dividend increase is a testament to its solid financial position and commitment to shareholder returns. Supporting this, InvestingPro Tips highlight that AMSF has maintained dividend payments for 11 consecutive years and pays a significant dividend to shareholders, with a current dividend yield of 10.43%. The company's ability to sustain these payments is backed by its profitability over the last twelve months and the prediction by analysts that the company will continue to be profitable this year.
Looking at the real-time data from InvestingPro, AMSF boasts a P/E Ratio of 14.79, which is considered low relative to its near-term earnings growth. This suggests that the stock may be undervalued given its earnings potential. Additionally, the company's revenue growth over the last twelve months stood at a healthy 4.53%, indicating a steady increase in its financial performance.
For investors seeking more detailed financial analysis and additional InvestingPro Tips, there are 5 more tips available that could provide deeper insights into AMSF's financial health and future prospects. These can be found at Investing.com/pro/AMSF. To further enrich your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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