The Hanover Insurance Group, Inc. Increases Annual Dividend By $0.30, to $0.75 Per Share
October 20 2009 - 4:30PM
PR Newswire (US)
WORCESTER, Mass., Oct. 20 /PRNewswire-FirstCall/ -- The Board of
Directors of The Hanover Insurance Group, Inc. (NYSE:THG) today
declared an annual dividend of 75 cents ($0.75) per share on the
issued and outstanding common stock of the company, payable
December 9, 2009, to shareholders of record at the close of
business on November 25, 2009. This represents an increase of 30
cents, or 67% from the dividend paid last year. (Logo:
http://www.newscom.com/cgi-bin/prnh/20051031/NEM023LOGO ) The board
also authorized a change in the company's dividend payment schedule
from a single annual cash dividend to quarterly dividend payments,
subject to subsequent board authorization and declaration each
quarter, beginning in fiscal year 2010. "I am pleased to announce
that we have increased our annual dividend for the fifth
consecutive year," said Frederick H. Eppinger, chief executive
officer of The Hanover. "The increase this year, the decision to
switch to a quarterly dividend schedule, and the increase in our
share repurchase program announced last month, all are driven by
our continuing commitment to deliver value to our shareholders, and
demonstrate the board's confidence in our capital position,
financial strength and future." Forward-Looking Statements
Statements regarding our balance sheet, financial strength, capital
and liquidity positions, potential for future profitable growth and
positive cash flow, and dividends payable to our shareholders,
which may be subject to future increases, decreases, or elimination
are forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. The company cautions investors that
any such forward-looking statements are not guarantees of future
performance, and actual results could differ materially. Investors
are directed to consider the risks and uncertainties in its
business that may affect future performance and that are discussed
in readily available documents, including the Company's annual
report and other documents filed by The Hanover with the Securities
and Exchange Commission and which are also available at
http://www.hanover.com/ under "Investors." About The Hanover The
Hanover Insurance Group, Inc. (NYSE:THG), based in Worcester,
Mass., is the holding company for a group of insurers that includes
The Hanover Insurance Company, also based in Worcester; Citizens
Insurance Company of America, headquartered in Howell, Mich., and
their affiliates. The Hanover offers a wide range of property and
casualty products and services to individuals, families and
businesses through an extensive network of independent agents, and
has been meeting its obligations to its agent partners and their
customers for more than 150 years. Taken as a group, The Hanover
ranks among the top 30 property and casualty insurers in the United
States. For more information, please visit http://www.hanover.com/.
CONTACTS Investors: Media: Oksana Lukasheva Michael F. Buckley
(508) 855-2063 (508) 855-3099
http://www.newscom.com/cgi-bin/prnh/20051031/NEM023LOGO
http://photoarchive.ap.org/ DATASOURCE: The Hanover Insurance
Group, Inc. CONTACT: Investors, Oksana Lukasheva, +1-508-855-2063,
; or Media, Michael F. Buckley, +1-508-855-3099, , both of The
Hanover Insurance Group, Inc. Web Site: http://www.hanover.com/
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