Independence Holding Company Announces Special 10% Stock Dividend and Increase in Cash Dividend
February 06 2012 - 12:39PM
Independence Holding Company (NYSE:IHC) today reported a special
10% stock dividend payable to shareholders of record on February
17, 2012 with a distribution date of March 5, 2012. Fractional
shares will be paid in cash in lieu of stock. IHC also announced
that it will increase its annual dividend from $.05 to $.07 per
share. The first semi-annual dividend of $.035 per share will be
payable in July, 2012.
Roy Thung, Chief Executive Officer, commented, "After
considering IHC's strong financial position, which improved despite
the global economic crisis, and management's continued optimism as
to the Company's future prospects, including as a result of its
expanded strategies and increase in earnings related to medical
stop-loss, the Board of Directors has enhanced the cash dividend
from $.05 to $.07 per share annually. This is effectively a 54%
increase after taking into consideration the special stock
dividend. This stock dividend should improve market liquidity,
thereby broadening our investor base and enhancing shareholder
value."
About Independence Holding Company
IHC is a holding company principally engaged in the life and
health insurance business and the acquisition of blocks of policies
through its insurance company subsidiaries (Standard Security Life
Insurance Company of New York, Madison National Life Insurance
Company, Inc. and Independence American Insurance Company) and its
managing general underwriters, third-party administrators, and
marketing affiliates. Standard Security Life markets medical
stop-loss, small group major medical, short-term medical, major
medical for individuals and families, limited medical, group long
and short-term disability and life, dental, vision and managed
health care products. Madison Life sells group life and disability,
employer medical stop-loss, small group major medical, major
medical for individuals and families, short-term medical, dental,
vision, and individual life insurance. Independence American offers
major medical for individuals and families, medical stop-loss,
small group major medical, short-term medical, and pet insurance.
IHC owns certain subsidiaries through its majority ownership of
American Independence Corp. (Nasdaq:AMIC), which is a holding
company principally engaged in the insurance and reinsurance
business.
Certain statements and information contained in this release may
be considered "forward-looking statements," such as statements
relating to management's views with respect to future events and
financial performance. Such forward-looking statements are
subject to risks, uncertainties and other factors which could cause
actual results to differ materially from historical experience or
from future results expressed or implied by such forward-looking
statements. Potential risks and uncertainties include, but are
not limited to, economic conditions in the markets in which IHC
operates, new federal or state governmental regulation, IHC's
ability to effectively operate, integrate and leverage any past or
future strategic acquisition, and other factors which can be found
in IHC's other news releases and filings with the Securities and
Exchange Commission.
CONTACT: David T. Kettig
(212) 355-4141
www.ihcgroup.com
American Independence Corp. (NASDAQ:AMIC)
Historical Stock Chart
From Jun 2024 to Jul 2024
American Independence Corp. (NASDAQ:AMIC)
Historical Stock Chart
From Jul 2023 to Jul 2024