Mercury General offers a wide variety of insurance products, including classic auto insurance. Photo courtesy Greg Gjerdingen/flickr.com.
About Mercury General Corporation
Mercury General Corporation is an independent broker and writer of insurance products across 13 states. Mercury General has assets of over $4 billion and provides homeowners, personal umbrella, rental, condo, mechanical breakdown, and personal and commercial automobile insurance.
Mercury General was formed in 1961 and wrote its first policy in April 1962. The company went public in 1985 with an IPO on the NASDAQ. In 1996, Mercury moved to the New York Stock Exchange. Mercury currently has over 6,700 agents selling insurance.
Mercury, under the leadership of founder and Chairman George Joseph, prides itself on building trust with its customers and was recognized as one of America’s Most Trustworthy Companies by Forbes from 2007 – 2009.
The company is a member of the S&P Mid Cap 400 index and was added to S&P’s High Yield Dividend Aristocrats index at the beginning of 2015, and trades under the ticker symbol MCY.
Mercury General Corporation’s Dividend and Stock Split History
Mercury General began paying dividends in 1986, the year after its IPO, and has increased them each year since then. Since 2009 Mercury General has announced dividend increases at the beginning of November and the stock has gone ex-dividend in the middle of December.
With minimal increases over the last 5 years, Mercury General has compounded its payout at an average rate of 0.4% over the last 5 years and 1.8% over the last 10 years.
Mercury General Corporation has split its stock twice since beginning its record of dividend growth in 1986. The company split its stock 2-for-1 in September 1992 and October 1997. For each share of stock you owned in 1986, you would now have 4 shares of Mercury General stock.
Mercury General’s Direct Purchase and Dividend Reinvestment Plans
Mercury General Corporation does not have a direct purchase or dividend reinvestment plan. In order to invest in Mercury General Corporation’ stock, you’ll need to purchase it through a broker. Most brokers will allow you to reinvest dividends without any fee. Ask your broker for more information on how to set this up if you are interested.
Helpful Links
Mercury General Corporation’s Investor Relations Website
Current quote and financial summary for Mercury General Corporation (finviz.com)