TAMPA - HCI Group, Inc. (NYSE: HCI), a diversified holding company, has announced a regular quarterly cash dividend of 40 cents per common share. Shareholders on record as of the close of business on May 17, 2024, will be eligible for the dividend, which is set to be distributed on June 21, 2024.
HCI Group has a portfolio that includes operations in homeowners insurance, information technology services, real estate, and reinsurance. Its insurance operations are primarily conducted through TypTap Insurance Company, a technology-driven insurer, and Homeowners Choice Property & Casualty Insurance Company, Inc., which serves mainly the Florida market. Additionally, the group's real estate subsidiary, Greenleaf Capital, LLC, manages a variety of properties within Florida.
The company's common shares are publicly traded on the New York Stock Exchange and are part of both the Russell 2000 and S&P SmallCap 600 Index. HCI Group consistently releases financial and other significant information through the Investor Information section on its website.
It is important to note that this press release may contain forward-looking statements, which are not assurances of future performance but rather subject to various risks and uncertainties. These statements, often identified by words such as "anticipate," "expect," and "intend," reflect the company's current expectations and projections about future events.
Changes in the company's cash flow and balances could affect HCI Group's ability to pay future dividends, as indicated by the company's filings with the Securities and Exchange Commission.
This news article is based on a press release statement from HCI Group, Inc., and it aims to report the facts without offering opinions or recommendations. Investors are encouraged to consult additional sources for further information regarding HCI Group's financial position and market activities.
InvestingPro Insights
In light of HCI Group's recent announcement regarding its regular quarterly cash dividend, InvestingPro data reveals a robust financial profile that may interest shareholders and potential investors.
The company's market capitalization stands at approximately $1.15 billion, with a healthy Price/Earnings (P/E) ratio of 12.66, which adjusts to 15.15 when looking at the last twelve months as of Q4 2023. This suggests that HCI Group is priced reasonably relative to its earnings. Moreover, the company has experienced a substantial revenue growth of 10.92% over the last twelve months, signaling a strong performance in its operations.
InvestingPro Tips further illuminate the company's commendable track record, with HCI maintaining dividend payments for 15 consecutive years, which aligns with the recent dividend announcement. Moreover, the company has demonstrated a high return over the last year, as evidenced by a 118.4% one-year price total return, and a significant price uptick over the last six months, with a 98.56% six-month price total return.
For investors keen on delving deeper into HCI Group's performance and future prospects, InvestingPro offers even more detailed analysis and metrics. With an additional 8 InvestingPro Tips available at https://www.investing.com/pro/HCI, subscribers can gain a comprehensive understanding of the company's financial health. Interested readers can take advantage of an exclusive offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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