CHICAGO, Aug. 17, 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 September 15, 2020 to shareholders of record on
September 4, 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 58th place among just 113
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:
Aaron Jacoby, SVP Corporate
Development & Finance
Old Republic International Corporation
307 North Michigan Avenue, Chicago,
IL 60601
ajacoby@oldrepublic.com
(312) 346-8100
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SOURCE Old Republic International Corporation