Delphi Financial Increases Cash Dividend
May 10 2007 - 9:30AM
PR Newswire (US)
WILMINGTON, Del., May 10 /PRNewswire-FirstCall/ -- Delphi Financial
Group, Inc. (NYSE:DFG) announced today that its Board of Directors
declared a quarterly cash dividend of $0.09 per share, a 12.5%
increase from its previous dividend of $0.08 per share. The cash
dividend will be payable on June 6, 2007 to shareholders of record
at the close of business on May 23, 2007. Robert Rosenkranz,
Chairman and Chief Executive Officer, said, "Delphi's strong
earnings growth and excellent financial flexibility are enabling us
to return value to our shareholders through higher dividends. We
were pleased that our improved financial strength and favorable
operating results were recognized yesterday by Standard &
Poor's, which raised its rating on Delphi's senior debt to 'BBB+'.
We expect to realize tangible benefits from our higher ratings in
coming years as we continue to create substantial future value for
our shareholders." Delphi Financial Group, Inc. is an integrated
employee benefit services company. Delphi is a leader in managing
all aspects of employee absence to enhance the productivity of its
clients and provides the related insurance coverages: group life,
long-term and short-term disability, excess workers' compensation
for self-insured employers, travel accident and dental. Delphi's
asset accumulation business emphasizes individual fixed annuity
products. Delphi's common stock is listed on the New York Stock
Exchange under the symbol DFG and its corporate website address is
http://www.delphifin.com/. In connection with, and because it
desires to take advantage of, the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995, Delphi cautions
readers regarding certain forward-looking statements in the
foregoing discussion and in any other statements made by, or on
behalf of, Delphi, whether in future filings with the Securities
and Exchange Commission or otherwise. Forward-looking statements
are statements not based on historical information and which relate
to future operations, strategies, financial results, prospects,
outlooks or other developments. Some forward- looking statements
may be identified by the use of terms such as "expects,"
"believes," "anticipates," "intends," "judgment," "outlook" or
other similar expressions. Forward-looking statements are
necessarily based upon estimates and assumptions that are
inherently subject to significant business, economic, competitive
and other uncertainties and contingencies, many of which are beyond
Delphi's control and many of which, with respect to future business
decisions, are subject to change. Examples of such uncertainties
and contingencies include, among other important factors, those
affecting the insurance industry generally, such as the economic
and interest rate environment, federal and state legislative and
regulatory developments, including but not limited to changes in
financial services, employee benefit and tax laws and regulations,
market pricing and competitive trends relating to insurance
products and services, acts of terrorism or war, and the
availability and cost of reinsurance, and those relating
specifically to Delphi's business, such as the level of its
insurance premiums and fee income, the claims experience,
persistency and other factors affecting the profitability of its
insurance products, the performance of its investment portfolio and
changes in Delphi's investment strategy, acquisitions of companies
or blocks of business, and ratings by major rating organizations of
Delphi and its insurance subsidiaries. These uncertainties and
contingencies can affect actual results and could cause actual
results to differ materially from those expressed in any
forward-looking statements made by, or on behalf of, Delphi. Delphi
disclaims any obligation to update forward-looking information.
DATASOURCE: Delphi Financial Group, Inc. CONTACT: Bernard J.
Kilkelly, Vice President, Investor Relations, +1-212-303-4349, Web
site: http://www.delphifin.com/
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