Our analysis is based on comparing Maiden Holdings Ltd. with the following peers – Everest Re Group, Ltd., Validus Holdings, Ltd., RenaissanceRe Holdings Ltd., Aspen Insurance Holdings Limited, Axis Capital Holdings Limited, Reinsurance Group of America, Incorporated, Third Point Reinsurance Ltd. and Scor SE Sponsored ADR (RE-US, VR-US, RNR-US, AHL-US, AXS-US, RGA-US, TPRE-US and SCRYY-US).
Maiden Holdings Ltd.’s dividend yield is 3.45 percent and its dividend payout is 38.36 percent. This compares to a peer median dividend yield of 2.00 percent and a payout level of 24.00 percent. This type of dividend performance might make it a good stock for dividend investors. In addition, the company’s relatively good dividend quality score of 67 out of a possible score of 100 points to some sustainability of its robust payout ratio, and underscores its attractiveness for dividend investors seeking current income.
Dividend Quality Overview
- Over the last twelve months (prior to September 30, 2016), MHLD-US paid a medium quality dividend, which represents a yield of 3.39% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 1 was high quality, 1 was medium quality and 3 were low quality.
- The ending cash balance, with a dividend coverage of 10.68x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
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Over the last twelve months (prior to September 30, 2016), MHLD-US paid a medium quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 10.70x), investing cash flow (coverage of -11.51x), issuance cash flow (coverage of 3.06x) and twelve-month prior cash (coverage of 10.65x), for a total dividend coverage of 11.68x.
MHLD-US‘s issuance cash flow includes outflows from net debt repayment (coverage of -0.03x).
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||3.31||5||2.47||3.44||3.48||3.45|
|Dividend Payout (%)||76.92||51.56||32.2||44.23||40.46||38.36|
A complete list of metrics and analysis is available on the company page.
Maiden Holdings Ltd. operates as an investment holding company, which focuses on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing innovative reinsurance solutions designed to support their capital needs. The company provides non-catastrophic, customized reinsurance products and services to small and mid-size insurance companies in the U.S. and Europe. It operates through the following segments: Diversified Reinsurance and AmTrust Reinsurance. The Diversified Reinsurance segment consists of a portfolio of property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies located in the U.S. and Europe. The AmTrust Reinsurance segment includes all business ceded by AmTrust to maiden Bermuda, primarily the AmTrust quota share and the European hospital liability quota share. The company was founded in June 2007 and is headquartered in Hamilton, Bermuda.
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