FORT LAUDERDALE, Fla.,
Jan. 13, 2015 /PRNewswire/ --
Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that
its Board of Directors declared an increased cash dividend of
$0.12 per share of common stock, up
$0.02 from the $0.10 per share paid the past three quarters.
Payment will be made on March 2, 2015
to shareholders of record on February 18,
2015. If declared and paid as intended, the annual aggregate
dividend in 2015 will be $0.48 for
each common share.
"This increase in our quarterly dividend is a reflection of our
solid financial position and commitment to delivering value to our
shareholders," said Sean P. Downes,
the Company's Chairman, President and Chief Executive Officer. "We
continue to successfully execute on our strategy to grow our
business and increase profitability, providing us with the ability
to invest in our growth while also returning capital to
shareholders."
The declaration and payment of future dividends is subject to
the Board's discretion and will be dependent upon future earnings,
cash flows, financial requirements, and other factors.
About Universal Insurance Holdings, Inc.
Universal
Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a
vertically integrated insurance holding company performing all
aspects of insurance underwriting, distribution and claims.
Universal Property & Casualty Insurance Company (UPCIC), a
wholly-owned subsidiary of the Company, is one of the leading
writers of homeowners insurance in Florida and is now fully licensed and has
commenced its operations in North
Carolina, South Carolina,
Hawaii, Georgia, Massachusetts, Maryland and Delaware. American Platinum Property and
Casualty Insurance Company, also a wholly-owned subsidiary,
currently writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages
currently not targeted through its affiliate UPCIC. For additional
information on the Company, please visit our investor relations
website at www.universalinsuranceholdings.com.
Forward-Looking Statements and Risk Factors
This
press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words "believe," "expect," "anticipate," and similar
expressions identify forward-looking statements, which speak only
as of the date the statement was made. Such statements may include
commentary on plans, products and lines of business, marketing
arrangements, reinsurance programs and other business developments
and assumptions relating to the foregoing. Forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Future results could
differ materially from those described and the Company undertakes
no obligation to correct or update any forward-looking statements.
For further information regarding risk factors that could affect
the Company's operations and future results, refer to the Company's
reports filed with the Securities and Exchange Commission,
including the Form 10-K for the year ended December 31, 2013 and the Form 10-Q for the
quarter ended September 30, 2014.
Investor Contact:
Andy Brimmer / Mahmoud
Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Universal Insurance Holdings, Inc.