Oxbridge Re Holdings Ltd. : OXBR-US: Dividend Analysis : December 23rd, 2016 (record date) : By the numbers : February 7, 2017

Our analysis is based on comparing Oxbridge Re Holdings Ltd. with the following peers – Fairfax Financial Holdings Limited, Blue Capital Reinsurance Holdings Ltd., Validus Holdings, Ltd. and RenaissanceRe Holdings Ltd. (FRFHF-US, BCRH-US, VR-US and RNR-US).

Oxbridge Re Holdings Ltd.’s dividend yield is 8.28 percent and its dividend payout is 55.17 percent. This compares to a peer median dividend yield of 2.47 percent and a payout level of 43.64 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 92 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 Yield
Dividend Quality Score

Dividend Quality Overview

  • Over the last twelve months (prior to September 30, 2016), OXBR-US paid a high quality dividend, which represents a yield of 8.28% at the current price.
  • Dividend quality trend has not been consistent over the last five years. Dividends were paid during 2 of these years — of these 1 was high quality and 1 was medium quality.
  • The ending cash balance, with a dividend coverage of 12.30x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to September 30, 2016), OXBR-US paid a high 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 1.25x), investing cash flow (coverage of 0.30x), issuance cash flow (coverage of -0.13x) and twelve-month prior cash (coverage of 12.57x), for a total dividend coverage of 13.30x.

OXBR-US‘s issuance cash flow includes outflows from net share buybacks (coverage of -0.14x). Thus, the total coverage including share buybacks is 13.44x, which reflects our assumption that the cash paid for share buybacks is discretionary and could instead be used to pay dividends.

Dividend Coverage by Cash Flow (TTM)

These coverage ratio factors imply that the firm’s dividends are wholly paid from operating and investing cash flows net of any debt repayments, which suggests a high dividend quality.

Dividend History

Item N/A N/A N/A 2014-12-31 2015-12-31 Latest
Dividend Yield (%) N/A N/A N/A 4.85 8.39 8.28
Dividend Payout (%) N/A N/A N/A 29.27 63.16 55.17

A complete list of metrics and analysis is available on the company page.

Company Profile

Oxbridge Re Holdings Ltd. engages in the provision of reinsurance business solutions to property and casualty insurers in the Gulf Coast region of the United States. Through its subsidiaries, it fully collateralized policies to cover property losses from specified catastrophes. The company was founded on April 4, 2013 and is headquartered in George Town, Cayman Islands.


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