Independence Holding Company Announces a 67% Increase in Semi-Annual Cash Dividend
December 20 2017 - 4:15PM
Independence Holding Company (NYSE:IHC) today reported declaration
of its semi-annual cash dividend of $0.10 per share ($0.20 per
share annually) of common stock, payable to stockholders of record
on January 2, 2018, with a payment date of January 16, 2018.
The dividend reflects a 67% increase from the last declared
dividend. This increase in the dividend is larger than that
announced in October.
Roy T.K. Thung, Chief Executive Officer of IHC,
commented, “The Board of Directors determined to materially
increase the dividend as a result of the Company’s significant
corporate liquidity and its favorable outlook resulting from, among
other things, (i) significant sales increases during the 2018 open
enrollment, (ii) the elimination of the individual mandate in 2019,
which is expected to increase sales of the Company’s individual
specialty health products, (iii) the anticipated elimination of the
rule limiting the duration of short term medical to 90 days, as
directed by President Trump’s executive order, and (iv) the
decrease of the corporate tax rate, which is expected to
significantly increase earnings in 2018 and beyond. We are
also gratified by A.M. Best’s affirmation of our A- (Excellent)
rating and, in particular, its categorization of our balance sheet
strength as ‘strongest’.”
About The IHC Group
Independence Holding Company (NYSE:IHC) is a
holding company that is principally engaged in underwriting,
administering and/or distributing group and individual specialty
benefit products, including disability, supplemental health, pet,
and group life insurance through its subsidiaries since 1980.
The IHC Group owns three insurance companies (Standard Security
Life Insurance Company of New York, Madison National Life Insurance
Company, Inc. and Independence American Insurance Company), and IHC
Specialty Benefits, Inc., a technology-driven insurance sales and
marketing company that creates value for insurance producers,
carriers and consumers (both individuals and small businesses)
through a suite of proprietary tools and products (including ACA
plans and small group medical stop-loss). All products are
placed with highly rated carriers.
CONTACT: LOAN NISSER |
(646) 509-2107 |
www.IHCGroup.com |
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