CHICAGO, May 14, 2021 /PRNewswire/ -- The Board of Directors of Old Republic International Corporation (NYSE: ORI) declared a regular quarterly cash dividend of 22 cents per common share. This dividend is payable on June 15, 2021 to shareholders of record on June 4, 2021. Subject to Board approval of each quarter's new rate, the full year's cash dividend will amount to 88 cents per share compared to 84 cents paid in 2020.
This latest dividend increase marks the 40th consecutive year that Old Republic has boosted its cash dividend rate, and 2021 becomes the 80th year of uninterrupted regular 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. Its consistent and reliable 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.
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ORI
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Selected Indices' Compounded
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Annual
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Annual
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Total Annual Returns
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Book Value
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Market Value
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Nominal
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S & P
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Compounded
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Compounded
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Gross
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S & P
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P&C
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Total
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Total
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Domestic
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500
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Insurance
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Return
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Return
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Product
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Index
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Index
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Ten Years 2001 - 2010
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8.0%
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1.9%
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3.9%
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1.4%
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1.0%
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Ten Years 2011 - 2020
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8.8%
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9.9%
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3.3%
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13.9%
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14.3%
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Twenty Years 2001 - 2020
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8.4%
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5.8%
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3.6%
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7.5%
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7.4%
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First Quarter 2020 - only
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-12.4%
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-31.1%
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-0.9%
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-19.6%
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-20.6%
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First Quarter 2021 - only
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5.1%
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18.1%
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6.0%*
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6.2%
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4.4%
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*Estimated
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According to the most recent edition of Mergent's Dividend Achievers, Old Republic is listed in 58th place among just 111 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
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Alternatively, please write or call: Investor Relations
Old Republic International Corporation
307 North Michigan Avenue, Chicago, IL 60601
(312) 346-8100
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At Old Republic:
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At Financial Relations Board:
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Craig R. Smiddy: President and Chief Executive Officer
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Analysts/Investors: Joe Calabrese 212/827-3772
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View original content:http://www.prnewswire.com/news-releases/old-republic-declares-second-quarter-cash-dividend-of-22-cents-per-share-301291647.html
SOURCE Old Republic International Corporation