NYMAGIC, INC. Increases Dividend
March 05 2010 - 3:02PM
PR Newswire (US)
NEW YORK, March 5 /PRNewswire-FirstCall/ -- The Board of Directors
of NYMAGIC, INC. announced today that it has declared a dividend to
shareholders of ten cents per share, payable on April 6, 2010 to
shareholders of record on March 31, 2010. This quarterly dividend
represents an increase of four cents per share over the Company's
fourth quarter 2009 dividend, and six cents per share over the
Company's third quarter 2009 dividend. A. George Kallop, President
and Chief Executive Officer commented, "The recent increases in
dividends to our shareholders are a reflection of our excellent
performance in 2009 and our continued confidence in the prospects
for the growth of the Company." NYMAGIC, INC. is an insurance
holding company whose property and casualty insurance subsidiaries
specialize in underwriting ocean marine, inland marine and
non-marine liability insurance, and whose agency subsidiaries
specialize in establishing markets for such business. The Company
maintains offices in New York and Chicago. Any forward-looking
statements concerning the Company's operations, economic
performance and financial condition contained herein, including
statements related to the outlook for the Company's performance and
the Company's ability to pay dividends in 2010 and beyond, are made
under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based upon a
number of assumptions and estimates, which inherently are subject
to uncertainties and contingencies, many of which are beyond the
control of the Company. Some of these assumptions may not
materialize and unanticipated events may occur which could cause
actual results to differ materially from such statements. These
include, but are not limited to, the cyclical nature of the
insurance and reinsurance industry, premium rates, the estimation
of loss reserves and loss reserve development, net loss retention,
the effect of competition, the ability to collect reinsurance
recoverables, the availability and cost of reinsurance, changes in
the value of the Company's investment portfolio, changes in the
ratings assigned to the Company by rating agencies and other risks
and uncertainties as included in the Company's filings with the
Securities and Exchange Commission. These risks could cause actual
results for the 2010 year and beyond to differ materially from
those expressed in any forward-looking statements made. The Company
undertakes no obligation to update publicly or revise any
forward-looking statements made. CONTACT: NYMAGIC, INC. A. George
Kallop, 212-551-0744 or Tiberend Strategic Advisors Gregory
Tiberend, 212-827-0020 DATASOURCE: NYMAGIC, INC. CONTACT: A. George
Kallop, NYMAGIC, INC., +1-212-551-0744; or GregoryTiberend,
Tiberend Strategic Advisors, +1-212-827-0020
Copyright
Nymagic (NYSE:NYM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nymagic (NYSE:NYM)
Historical Stock Chart
From Jul 2023 to Jul 2024