Assurant Board of Directors Approves Common Stock Dividend Increase of 11%

Rhea-AI Summary

Assurant (NYSE: AIZ) has announced an 11% increase in its quarterly dividend, raising it by $0.08 to $0.80 per share of common stock. The dividend will be paid on December 30, 2024, to stockholders of record as of December 9, 2024. This marks the company's 20th consecutive year of dividend increases since its IPO. CFO Keith Meier emphasized that this increase reflects Assurant's strong capital position and confidence in long-term cash generation from their Global Lifestyle and Global Housing businesses.

Positive

• 11% increase in quarterly dividend to $0.80 per share
• 20 consecutive years of dividend increases showing consistent growth
• Strong capital position indicated by management
• Demonstrated long-term cash generation capability

Negative

• None.

Insights

Financial Analyst

The 11% dividend increase to $0.80 per share marks a significant milestone in Assurant's capital return strategy. This represents the 20th consecutive year of dividend increases since IPO, demonstrating exceptional consistency in shareholder returns. The increase reflects robust financial health and strong cash flow generation capabilities from both Global Lifestyle and Global Housing segments.

The company's balanced capital management approach and consistent dividend growth trajectory suggest strong underlying business fundamentals. With a current market cap of $11.4B, this dividend increase represents a meaningful commitment to shareholder returns while maintaining flexibility for business investments. The timing of the announcement, well ahead of the December payment date, provides clarity on the company's capital allocation priorities for 2024.

ATLANTA--(BUSINESS WIRE)-- Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects, and connects major consumer purchases, announced today that its Board of Directors declared a quarterly dividend increase of $0.08 to $0.80 per share of common stock. The dividend will be payable on December 30, 2024 to stockholders of record as of the close of business on December 9, 2024.

“Today represents another significant milestone for Assurant and our shareholders, as we increased our dividend for the 20^th consecutive year since our initial public offering,” said Assurant Executive Vice President and Chief Financial Officer Keith Meier. “The 11 percent increase in our quarterly dividend underscores our strong capital position and confidence in Assurant’s long-term cash generation, led by our unique and differentiated businesses across Global Lifestyle and Global Housing. As we look to the future, we remain focused on driving growth while delivering attractive returns to our shareholders, supported by our balanced capital management strategy,” Meier added.

Future dividend declarations will be made at the discretion of the Assurant Board of Directors and will depend on various factors, including the company’s earnings, financial condition, capital requirements, subsidiaries’ payments of dividends to the company, future prospects, regulatory restrictions, and other considerations.

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects, and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products, and other specialty products.

Learn more at assurant.com.

Safe Harbor Statement

Some of the statements in this news release, including the timing and amount of future share repurchases, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained in this news release are based upon our historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that our future plans, estimates or expectations will be achieved. Our actual results might differ materially from those projected in the forward-looking statements. We undertake no obligation to update or review any forward-looking statement, whether as a result of new information, future events or other developments. For information on factors that could affect our actual results, please refer to the factors identified in the reports we file with the U.S. Securities and Exchange Commission, including the risk factors identified in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20241119240012/en/

Media:

Julie Strider

Vice President, Global Communications

julie.strider@assurant.com

Stacie Sherer

Vice President, Corporate Communications

stacie.sherer@assurant.com

Investor Relations:

Rebekah Biondo

Deputy CFO

786.374.7283

rebekah.biondo@assurant.com

Sean Moshier

Vice President, Investor Relations

914.204.2253

sean.moshier@assurant.com

Matt Cafarchio

Director, Investor Relations

484.356.4791

matt.cafarchio@assurant.com

Source: Assurant, Inc.

FAQ

What is Assurant's (AIZ) new quarterly dividend amount for 2024?

Assurant's new quarterly dividend is $0.80 per share, representing an $0.08 increase from the previous amount.

When will Assurant (AIZ) pay its increased dividend in December 2024?

Assurant will pay the dividend on December 30, 2024, to stockholders of record as of December 9, 2024.

How many consecutive years has Assurant (AIZ) increased its dividend?

Assurant has increased its dividend for 20 consecutive years since its initial public offering.

What is the percentage increase in Assurant's (AIZ) quarterly dividend for 2024?

Assurant announced an 11% increase in its quarterly dividend.