Independence Holding Company Announces a 50% Increase in Its Annual Dividend Rate
April 16 2018 - 6:41PM
Independence Holding Company (NYSE:IHC) today announced that the
Board of Directors has voted to increase the cash dividend by 50%
to $.30 per share annually, effective with the next semi-annual
dividend payable in July 2018. This is the fourth increase since
December 2014 when the annual dividend paid to the stockholders was
$.07 per share.
Roy T.K. Thung, Chief Executive Officer of IHC,
commented, “With this increase, we have now increased our dividend
in each of the last four years. The Board of Directors
determined to approve this 50% increase in the annual cash dividend
as a result of the substantial increase in our earnings from
continuing operations in 2017, which represented our highest ever.
We remain optimistic that this increase in earnings from
continuing operations will continue through 2019 as a result of:
(i) the expected increase in sales of the Company’s individual
specialty health products due to the release of new products; (ii)
the anticipated elimination of the rule limiting the duration of
short term medical to 90 days, as directed by President Trump’s
executive order; (iii) the elimination of the individual mandate
effective January 1, 2019; and (iv) the growth in our other lines
of business.”
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. (IHC SB), a technology-driven full-service
marketing and distribution company that focuses on small employer
and individual consumer products through general agents,
telebrokerage, advisor centers, private label arrangements, and
through the following brands: www.HealtheDeals.com; Health eDeals
Advisors; Aspira A Mas; www.PetPartners.com; and
www.PetPlace.com. IHC creates value for insurance producers,
carriers and consumers (both individuals and small businesses)
through a suite of proprietary tools and products, all of which are
underwritten by IHC’s carriers or placed with highly rated
insurance companies.
CONTACT: LOAN NISSER |
(646) 509-2107 |
www.IHCGroup.com |
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