CHICAGO, July 21, 2020 /PRNewswire/ -- Old Republic
International Corporation (NYSE: ORI) today announced that
Michael D. Kennedy (63) will be
joining its Board of Directors. In making the announcement,
Al Zucaro, Chairman of the Board,
noted that "Our Company will benefit greatly from Michael Kennedy's wide-ranging experience in the
financial services fields. While he continues as a Senior Client
Partner with the Korn Ferry global management consulting firm, his
total career experience in corporate finance and asset management
with major financial institutions will harmonize extremely well
with our Board's overall governance objectives. We are most
grateful and pleased with his acceptance to join us and extend his
talents to further Old Republic's continued success as an
independent insurance business managed for the long run."
About Old Republic
Chicago-based Old Republic
International Corporation is one of the nation's 50 largest
shareholder-owned insurance businesses. It is a member of the
Fortune 500 listing of America's largest companies. 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, and its cash dividend policy reflects
this long-term orientation. The current annualized dividend rate of
$0.84 per share marks the 39th
consecutive year that Old Republic has boosted this rate, and 2020
becomes the 79th year of uninterrupted regular cash dividend
payments. Here's a summary of recent years' total book and market
returns, which includes the addition and reinvestment of cash
dividend payments, in comparison with the financial performance of
three selected indices similarly developed.
|
|
ORI
|
|
|
Selected Indices'
Compounded
|
|
|
|
|
|
Total Annual
Returns
|
Annual Book
Value
Compounded
Total
Return
|
|
Annual Market Value
Compounded
Total
Return
|
|
Nominal
Gross
Domestic
Product
|
S & P
500
Index
|
S & P
Insurance
Index
|
Ten Years 2000 -
2009
|
9.5%
|
|
7.4%
|
|
4.1%
|
-1.0%
|
-3.7%
|
Ten Years 2010 -
2019
|
7.7%
|
|
14.8%
|
|
4.0%
|
13.6%
|
12.4%
|
Twenty Years 2000 -
2019
|
8.6%
|
|
11.0%
|
|
4.1%
|
6.1%
|
4.1%
|
|
According to the most
recent edition of Mergent's Dividend Achievers, Old Republic
is listed in 58th place among
just 113 qualifying publicly held companies, out of thousands
considered, that have posted at least 25 consecutive
years of annual dividend growth.
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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
|
At Old Republic:
A.C. Zucaro, Chairman of the
Board
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SOURCE Old Republic International Corporation