Crawford & Company® Declares Increased Quarterly Dividends and Authorizes Share Repurchase

Rhea-AI Summary

Crawford & Company announces increased quarterly dividend and restart of share repurchase program.

Positive

• Crawford & Company has declared an increased quarterly dividend from $0.06 per share to $0.07 per share on both Class A and Class B Common Stock. They have also authorized the restart of their share repurchase program and extended its termination date to December 31, 2024.

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- On July 28, 2023, at its regular quarterly meeting, the Board of Directors of Crawford & Company® declared an increased quarterly dividend from $0.06 per share to $0.07 per share on both the Class A and Class B Common Stock, payable on September 1, 2023, to shareholders of record as of the close of business on August 18, 2023.

The Board also authorized the Company to restart its share repurchase program and extend the program’s termination date to December 31, 2024. The Board previously authorized a repurchase program in 2021 and there are 1,793,371 shares remaining to be purchased.

Under this repurchase program, repurchases may be made in the open market or privately negotiated transactions, at such times and for such prices as management deems appropriate, subject to applicable regulatory guidelines. The new authorization does not obligate Crawford to acquire any stock, and purchases may be commenced or suspended at any time based on market conditions and other factors that the Company deems appropriate.

“Through our commitment to driving shareholder value, we are pleased with our Board’s authorization to increase quarterly dividends for all shareholders and resume our repurchase program through 2024,” said Chief Executive Officer Rohit Verma.

For further information regarding this press release, please call Bruce Swain at (404) 300-1051.

About Crawford®

Based in Atlanta, Crawford & Company (NYSE: CRD-A and CRD-B) is a leading global provider of claims management and outsourcing solutions to insurance companies and self-insured entities with an expansive network serving clients in more than 70 countries. The Company’s two classes of stock are substantially identical, except with respect to voting rights for the Class B Common Stock (CRD-B) and protections for the non-voting Class A Common Stock (CRD-A). More information is available at www.crawco.com.

Tag: Crawford-Investor-News-and-Events, Crawford-Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20230731328911/en/

Media Contacts: mediarelations@us.crawco.com

Lynn Cufley

+44 207 265 4067

Lynn.Cufley@crawco.uk

Katie Cline

+1 470 792 5678

katie.cline@us.crawco.com

Source: Crawford & Company

FAQ

What is the new quarterly dividend declared by Crawford & Company?

Crawford & Company has increased its quarterly dividend from $0.06 per share to $0.07 per share on both Class A and Class B Common Stock.

What is the new termination date for Crawford & Company's share repurchase program?

Crawford & Company has extended the termination date of its share repurchase program to December 31, 2024.

How many shares are remaining to be purchased under Crawford & Company's repurchase program?

There are 1,793,371 shares remaining to be purchased under Crawford & Company's repurchase program.

Can Crawford & Company suspend or commence stock purchases at any time?

Yes, Crawford & Company can commence or suspend stock purchases at any time based on market conditions and other factors.