(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.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
