Shares of Amerisafe Inc (AMSF), a leading provider of high-hazard workers' compensation insurance, soared 5.3% on Wednesday, October 24th, after the company reported better-than-expected third-quarter earnings and announced a special cash dividend.
According to the Q3 earnings report, Amerisafe's adjusted earnings per share of $0.58 matched analyst estimates, while revenue rose 8.3% year-over-year to $78.7 million, surpassing expectations of $75.32 million. The company's net income for the quarter reached $14.32 million.
Additionally, Amerisafe declared a special cash dividend of $3 per share, payable on December 13th to shareholders of record as of December 6th. This unexpected cash distribution to investors is likely a key driver behind the stock's sharp rally, reflecting the company's strong financial position and commitment to returning value to shareholders.
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