SwingTrade Member Forum

[Rawnoc]

UVE recently announced a 20 cent dividend, double the previous dividend paid on October 30 for a grand total of 39 cents per share in cash dividends paid in 2008 alone for a 13% dividend yield at $3.00. UVE is a Florida Hurricane Insurer making money hand over fist since the 2005 Hurricane season shot rates up massively, drove out fearful competitors, and the lack of hurricanes since has been a major windfall for this once tiny company trading for as little as .04 now well over $3.00.

What's not to like? PE of 2-3, trades for just over book value, pays a massive dividend yield, and announced a share buyback this year which they completed 2 months later during Q3. Finally, they recently just got licensed to expand into North Carolina, South Carolina, Hawaii, as well as additional high-end markets in Florida. I expect to see a big jump in sales, earnings, and dividends in 2009 IMO. And you get paid a handsome dividend while you wait and see.