Investors Title Co - ITIC STOCK NEWS

Investors Title Company (Nasdaq: ITIC) has announced a quarterly cash dividend of $0.46 per share. The dividend will be payable on September 16, 2024, to shareholders of record as of September 3, 2024. Investors Title Company is a publicly-held North Carolina company traded on The Nasdaq Global Select Market. The company specializes in issuing and underwriting title insurance policies. Additionally, it offers services related to tax-deferred exchanges of like-kind property and provides investment management services to individuals, companies, banks, and trusts.

Investors Title Company (Nasdaq: ITIC) reported strong Q2 2024 results, with net income increasing 17.0% to $8.9 million ($4.70 per diluted share) compared to $7.6 million ($4.00 per diluted share) in Q2 2023. Revenues rose 12.1% to $65.4 million, driven by higher premiums from increased market activity and rising home prices. Operating expenses grew 11.7%, mainly due to higher agent commissions. For H1 2024, net income jumped to $13.4 million ($7.10 per diluted share) from $8.8 million ($4.62 per diluted share) in H1 2023. The company noted improved real estate market conditions, with declining mortgage rates and increased home inventories potentially signaling a positive outlook for the sector.

Investors Title Company (Nasdaq: ITIC) announced a cash dividend of $0.46 per share, declared by its Board of Directors. Shareholders of record on June 14, 2024, will receive the dividend on June 28, 2024.

Investors Title Company, based in Chapel Hill, NC, is publicly traded on The Nasdaq Global Select Market. The company specializes in issuing and underwriting title insurance policies and also provides services for tax-deferred exchanges and investment management to various clients.

Investors Title Company (Nasdaq: ITIC) announced first quarter 2024 results, reporting $4.5 million net income, $2.40 per diluted share, and $53.5 million revenues. Operating expenses decreased 4.3%, income before taxes increased to $5.8 million, and adjusted income before taxes (non-GAAP) rose to $3.4 million. Chairman highlighted revenue growth, cost reductions, and commitment to market expansion.

Investors Title Company (ITIC) declares a cash dividend of $.46 per share to shareholders of record on March 18, 2024, payable on March 29, 2024. ITIC is a North Carolina company traded on Nasdaq, specializing in title insurance policies, tax-deferred exchanges, and investment management services.

Investors Title Company (ITIC) reported a decrease in net income for the fourth quarter and year ended December 31, 2023, with revenues and operating expenses also showing declines. The company attributes these decreases to lower real estate transaction volumes due to higher mortgage interest rates and housing inventory constraints. Despite these challenges, the company remains optimistic about market improvements in 2024 and continues to invest in software and other initiatives for future competitiveness.

Investors Title Company (Nasdaq: ITIC) has declared a special cash dividend of $4.00 per share and a regular quarterly cash dividend of $0.46 per share. The special dividend will be funded through existing cash balances. The record date for both dividends is December 1, 2023, and the payment date is December 15, 2023.

Investors Title Company (Nasdaq: ITIC) reported net income of $7.1 million, or $3.75 per diluted share, for Q3 2023, compared to $7.9 million, or $4.17 per diluted share, in the prior year period. Revenues decreased 21.3% to $61.4 million, primarily due to declines in title insurance business and other investment income. Operating expenses decreased 22.3% due to reductions in expenses tied to title insurance volume. Income before income taxes decreased to $8.6 million, versus $10.1 million in the prior year period. For the nine months ended September 30, 2023, net income decreased to $15.9 million, compared to $16.4 million in the prior year period. Revenues decreased 21.5% to $171.1 million, and operating expenses decreased 23.3% to $151.1 million.

AM Best affirms the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of 'a' (Excellent) for the subsidiaries of Investors Title Company. The outlook is stable. The ratings reflect ITC Group's strong balance sheet, operating performance, limited business profile, and appropriate enterprise risk management.