CHICAGO, Aug. 17, 2020 /PRNewswire/ -- The Board of Directors of Old Republic International Corporation (NYSE: ORI) has declared a quarterly cash dividend on the common stock of 21 cents per share. This dividend is payable September 15, 2020 to shareholders of record on September 4, 2020. Subject to Board approval of each quarter's new rate, the full year's cash dividend will amount to 84 cents per share compared to 80 cents paid in 2019.
This latest dividend increase marks the 39th consecutive year that Old Republic has boosted its cash dividend rate, and 2020 becomes the 79th year of uninterrupted cash dividend payments.
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. 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
|
|
Annual
Book Value
Compounded
Total
Return
|
Annual
Market Value
Compounded
Total
Return
|
Total Annual Returns
|
|
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.
For Old Republic's latest news releases and other corporate documents:
Please visit us at www.oldrepublic.com
Alternatively, please write or call:
Aaron Jacoby, SVP Corporate Development & Finance
Old Republic International Corporation
307 North Michigan Avenue, Chicago, IL 60601
ajacoby@oldrepublic.com
(312) 346-8100
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SOURCE Old Republic International Corporation