CHICAGO, Nov. 21, 2018 /PRNewswire/ -- The Board of
Directors of Old Republic International Corporation (NYSE:
ORI) have declared a quarterly cash dividend on the common stock of
19.50 cents per share. This dividend
is payable December 14, 2018 to
shareholders of record on December 4,
2018. Subject to Board approval of each quarter's new rate,
the full year's cash dividend will amount to 78 cents per share compared to 76 cents paid in 2017.
This latest dividend increase marks the 37th
consecutive year that Old Republic has boosted its cash dividend
rate, and 2018 becomes the 77th year of uninterrupted
cash dividend payments.
About Old Republic
Chicago-based Old Republic
International Corporation is one of the nation's 50 largest
publicly held insurance organizations. Its most recent financial
statements reflect consolidated assets of approximately
$19.80 billion and common
shareholders' equity of $5.31
billion, or $17.76 per share.
Its current stock market valuation is approximately $6.52 billion, or $21.56 per share.
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.
The nature of Old Republic's business requires that it be
managed for the long run. For the 25 years ended in 2017, the
Company's total market return, with dividends reinvested, has grown
at a compounded annual rate of 9.1% per share. For the same period,
the total market return, with dividends reinvested, for the S&P
500 Index has grown at a 9.7% annual compound rate. During those
years, Old Republic's shareholders' equity account, inclusive of
cash dividends, has risen at an average annual rate of 9.2% per
share, and the regular cash dividend has grown at a 8.7% annual
compound rate. According to the most recent edition of Mergent's
Dividend Achievers, Old Republic is one of just 100 qualifying
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:
Investor Relations
Old Republic
International Corporation
307 North Michigan Avenue •
Chicago, IL
60601
312-346-8100
Further
Information Contacts:
|
AT OLD
REPUBLIC:
|
AT FINANCIAL
RELATIONS BOARD:
|
A. C. Zucaro:
Chairman & CEO
|
Analysts/Investors:
Marilynn Meek
|
(312)
346-8100
|
(212)
827-3773
|
View original
content:http://www.prnewswire.com/news-releases/old-republic-declares-regular-fourth-quarter-cash-dividend-of-19-50-cents-per-share-300754080.html
SOURCE Old Republic International Corporation