CHICAGO, May 7, 2020 /PRNewswire/ -- The Board of
Directors of Old Republic International Corporation (NYSE:
ORI) has declared a quarterly cash dividend on the common stock
of 21 cents per share. This dividend
is payable June 15, 2020 to shareholders of record on
June 5, 2020. Subject to Board approval of each quarter's new
rate, the full year's cash dividend will amount to 84 cents per share compared to 80 cents paid in 2019.
This latest dividend increase marks the 39th
consecutive year that Old Republic has boosted its cash dividend
rate, and 2020 becomes the 79th year of uninterrupted
cash dividend payments.
About Old Republic
Chicago-based Old Republic
International Corporation is one of the nation's 50 largest
shareholder-owned insurance businesses. It is a member of the
Fortune 500 listing of America's largest companies. The
Company is organized as an insurance holding company whose
subsidiaries actively market, underwrite, and provide risk
management services for a wide variety of coverages mostly in the
general and title insurance fields. A long-term interest in
mortgage guaranty and consumer credit indemnity coverages has
devolved to a run-off operating mode in recent years. Old
Republic's general insurance business ranks among the nation's 50
largest, while its title insurance operations are the third largest
in its industry.
The nature of Old Republic's business requires that it be
managed for the long run, and its cash dividend policy reflects
this long-term orientation. Here's a summary of recent years' total
book and market returns, which includes the addition and
reinvestment of cash dividend payments, in comparison with the
financial performance of three selected indices similarly
developed.
|
ORI
|
Selected Indices'
Compounded
|
Annual
Book Value
Compounded
Total
Return
|
Annual
Market Value
Compounded
Total
Return
|
Total Annual
Returns
|
Nominal
Gross
Domestic
Product
|
S&P
500
Index
|
S&P
Insurance
Index
|
Ten Years 2000 -
2009
|
9.5%
|
7.4%
|
4.1%
|
-1.0%
|
-3.7%
|
Ten Years 2010 -
2019
|
7.7%
|
14.8%
|
4.0%
|
13.6%
|
12.4%
|
Twenty Years 2000 -
2019
|
8.6%
|
11.0%
|
4.1%
|
6.1%
|
4.1%
|
According to the most recent edition of Mergent's Dividend
Achievers, Old Republic is listed in 62nd place among just 111
qualifying publicly held companies, out of thousands considered,
that have posted at least 25 consecutive years of annual dividend
growth.
For Old Republic's latest news releases and
other corporate documents:
Please visit us at
www.oldrepublic.com
Alternatively, please write or
call:
Investor Relations
Old Republic
International Corporation
307 North Michigan Avenue •
Chicago, IL
60601
312-346-8100
Further
Information Contacts:
|
|
AT OLD
REPUBLIC:
|
AT FINANCIAL
RELATIONS BOARD:
|
Craig R. Smiddy,
President & CEO
|
Analysts/Investors:
Marilynn Meek
|
(312)
346-8100
|
(212)
827-3773
|
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SOURCE Old Republic International Corporation