CHICAGO, Feb. 22, 2019 /PRNewswire/ -- The Board of
Directors of Old Republic International Corporation (NYSE:
ORI) has declared a quarterly cash dividend on the common stock of
20.00 cents per share. This dividend
is payable March 15, 2019 to shareholders of record on
March 5, 2019. Subject to Board approval of each quarter's new
rate, the full year's cash dividend will amount to 80 cents per share compared to 78 cents paid in 2018.
This latest dividend increase marks the 38th
consecutive year that Old Republic has boosted its cash dividend
rate, and 2019 becomes the 78th 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 enterprises. It is a member of the
Fortune 500 listing of America's largest companies. Its most
recent financial statements reflect consolidated assets of
approximately $19.32 billion and
common shareholders' equity of $5.14
billion, or $17.23 per share.
Its current stock market valuation is approximately $6.39 billion, or $21.12 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. Old
Republic's general insurance business ranks among the nation's 50
largest, while its title insurance operations are the third largest
in its industry.
The nature of Old Republic's business requires that it be
managed for the long run. For the 25 years ended in 2018, the
Company's total market return, with dividends reinvested, has grown
at a compounded annual rate of 9.9% per share. For the same
period, the total market return, with dividends reinvested, for the
S&P 500 Index has grown at a 9.1% annual compound rate.
During those years, Old Republic's shareholders' equity
account, inclusive of cash dividends, has risen at an average
annual rate of 8.9% per share, and the regular cash dividend has
grown at an 8.5% 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. Moreover, Old
Republic has paid a cash dividend without interruption since the
World War II year of 1942 (78 years), and it has raised the annual
cash dividend pay-out for each of the past 38 years.
For Old Republic's
latest news releases and other corporate documents:
Please visit us
at www.oldrepublic.com
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Alternatively,
please write or call:
Investor
Relations
Old Republic
International Corporation
307 North Michigan
Avenue • Chicago, IL 60601
312-346-8100
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Further
Information Contacts:
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AT OLD
REPUBLIC:
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AT FINANCIAL
RELATIONS BOARD:
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A. C. Zucaro:
Chairman & CEO
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Analysts/Investors:
Marilynn Meek
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(312)
346-8100
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(212)
827-3773
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SOURCE Old Republic International Corporation