Mercury General Earnings Up In Q4

(RTTNews) - Mercury General Corp. (MCY), an insurance organization, on Tuesday reported higher net income in the fourth quarter compared with the previous year. The company also declared a dividend.

For the fourth quarter, net income surged to $202.55 million from $101.07 million in the prior year.

Earnings per share were $3.66 versus $1.83 last year.

Operating income jumped to $202.46 million from $153.89 million in the same period last year.

Revenue increased to $1.54 billion from $1.37 billion in the previous year.

For the fourth quarter, net premiums earned $1.45 billion from $1.35 billion in the previous year.

Net premiums written increased to $1.490 billion from $1.35 billion in the same period a year ago.

Combined ratio for the period decreased 2.8 percent to 88.6% from 91.4% last year.

Further, the board declared a quarterly dividend of $0.3175 per share, payable on March 26, to shareholders of record on March 12.

On Tuesday, Mercury General closed at $96.19, 2.72 cents higher on the New York Stock Exchange. In the after-market hours, the stock traded 0.71 cents higher before ending the trade at $96.90.

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