Old Republic Announces Regular First Quarter Dividend of 16 Cents
February 22, 2008
CHICAGO, -- Old Republic International Corporation 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.
Source: Old Republic