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Old Republic Announces Regular First Quarter Dividend of 16 Cents; Board Approves 6.3% Increase Starting in Second Quarter
CHICAGO, Feb. 21 /PRNewswire-FirstCall/ -- Old Republic International Corporation (NYSE: ORI) announced today that its Board of Directors approved the payment of the regular quarterly cash dividend of 16 cents per common share. The dividend is payable on March 14, 2008 to shareholders of record on March 5, 2008.
The Directors also approved a quarterly cash dividend rate of 17 cents per share beginning with the second quarter 2008 dividend, which represents a 6.3 percent increase from the current quarterly rate of 16 cents per share. This increase marks the twenty-seventh consecutive year that Old Republic has boosted its cash dividend rate, and 2008 marks the 67th year of uninterrupted cash dividend payments. "Our ability to affect these recurring increases in cash dividends reflects our confidence in the prospects of our business as a solid investment with good long-term earnings sustainability," said Chairman and Chief Executive Officer A.C. Zucaro.
About Old Republic
Chicago-based Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages primarily in the property and liability, mortgage guaranty, and title insurance fields. One of the nation's 50 largest publicly owned insurance organizations, Old Republic has assets of approximately $13.2 billion and shareholders' equity of $4.5 billion or $19.71 per share. Its current stock market valuation is approximately $3.2 billion, or $14.06 per share.
For the latest news releases and other corporate documents on Old Republic International, visit http://www.oldrepublic.com
SOURCE Old Republic International Corporation
CONTACT: A.C. Zucaro, Chairman & CEO of Old Republic International
Corporation, +1-312-346-8100; or analysts-investors, Leslie Loyet,
+1-312-640-6672, firstname.lastname@example.org, or media, Tim Grace, +1-312-640-6667,
email@example.com, both of Financial Relations Board, for Old Republic