AMERISAFE Declares $0.41 Quarterly Dividend, Up 5.1% Year-Over-Year
AMERISAFE Inc, a workers' compensation insurance provider, has declared a quarterly cash dividend of $0.41 per share, payable in June. The dividend represents a 5.1% increase over the same period last year.
AMERISAFE Inc (NYSE: AMSF), a workers' compensation insurance provider, declared a quarterly cash dividend of $0.41 per share on April 21, 2026. The dividend will be paid on June 19, 2026, to shareholders of record as of June 12, 2026. Read more dividend announcements.
The payment marks a 5.1% increase from the $0.39 per share dividend paid in the first quarter of 2025. The company paid its previous quarterly dividend of $0.41 per share on March 20, 2026.
| Dividend Details | Information |
|---|---|
| Amount | $0.41 per share |
| Record Date | June 12, 2026 |
| Payment Date | June 19, 2026 |
| Frequency | Quarterly |
| Type | Cash |
First Quarter Operating Results
For the first quarter ended March 31, 2026, AMERISAFE reported net income of $8.1 million, or $0.43 per diluted share, compared to $8.9 million, or $0.47 per diluted share, in the prior-year quarter. Operating earnings per share were $0.50, down from $0.60 a year earlier.
The company's underwriting expense ratio improved to 29.7% from 29.9% in the first quarter of 2025, reflecting improved operating scale as premium volume and policy count growth outpaced controllable cost increases. The effective tax rate for the quarter was 19.8%, compared to 20.2% in the prior-year period.
Return on average equity was 13.1% for the quarter, compared to 13.8% a year earlier. Operating return on average adjusted equity was 14.9%, down from 17.1% in the first quarter of 2025.
Investment Portfolio Performance
Net investment income decreased 0.8% to $6.6 million for the quarter, driven by lower average investable assets compared to the prior-year period. This was partially offset by a higher overall book yield and reduced expenses. The pre-tax investment yield was 3.4%, up from 3.2% in the first quarter of 2025.
The company recorded net unrealized losses on equity securities of $1.7 million for the quarter, driven by market volatility and lower valuations across the equity portfolio. As of March 31, 2026, the carrying value of AMERISAFE's investment portfolio, including cash and cash equivalents, was $773.6 million.
Share Repurchase Activity
During the first quarter of 2026, AMERISAFE repurchased 119,959 shares of its common stock at an average cost of $33.60 per share, including commissions and excise tax, for a total of $4.0 million. Since the inception of its share repurchase program in 2010, the company has repurchased 2,094,099 shares at an average cost of $27.79 per share for a total of $58.2 million.
The remaining outstanding share repurchase authorization as of March 31, 2026, was $12.9 million. Book value per share at quarter-end was $13.18, a decrease of 1.6% from $13.39 at December 31, 2025.