Global Indemnity Group, LLC Announces Quarterly Distribution

Rhea-AI Summary

Global Indemnity Group, (NYSE:GBLI) has announced a quarterly distribution payment of $0.35 per common share. The distribution will be paid on October 7, 2024 to shareholders of record as of the close of business on September 30, 2024. This decision was approved by the company's Board of Directors.

Positive

• Quarterly distribution of $0.35 per common share approved
• Consistent shareholder returns through regular distributions

Negative

• None.

Financial Analyst

GBLI's announcement of a $0.35 per share quarterly distribution signals stability in their financial position. This consistent payout demonstrates the company's commitment to shareholder returns. However, it's important to note that the distribution remains unchanged from previous quarters, indicating no growth in shareholder returns. For investors seeking income, this stability might be appealing, but those looking for dividend growth may find it less exciting. The long lead time until the October 2024 payout is unusual and might suggest careful financial planning or potential regulatory considerations. Overall, while the news is positive for income-focused investors, it doesn't indicate significant company growth or financial improvement.

WILMINGTON, Del.--(BUSINESS WIRE)-- Global Indemnity Group, LLC (NYSE:GBLI) (“GBLI”) announced today its Board of Directors has approved a distribution payment of $0.35 per common share to be paid on October 7, 2024 to all shareholders of record as of the close of business on September 30, 2024.

About Global Indemnity Group, LLC and its subsidiaries

Global Indemnity Group, LLC (NYSE:GBLI), through its several direct and indirect wholly owned subsidiary insurance companies, provides both admitted and non-admitted specialty property and specialty casualty insurance coverages and individual policyholder coverages in the United States, as well as reinsurance worldwide. The insurance companies manage the distribution of the Company's core product offerings through Penn-America. The Company also has a Non-Core Operations segment that contains lines of business that have been de-emphasized or are no longer being written.

For more information, visit the Company’s website at www.gbli.com.

Forward-Looking Information

The forward-looking statements contained in this press release¹ do not address a number of risks and uncertainties. Investors are cautioned that Global Indemnity’s actual results may be materially different from the estimates expressed in, or implied, or projected by, the forward looking statements. These statements are based on estimates and information available to us at the time of this press release. All forward-looking statements in this press release are based on information available to Global Indemnity as of the date hereof. Please see Global Indemnity’s filings with the Securities and Exchange Commission for a discussion of risks and uncertainties which could impact the Company and for a more detailed explication regarding forward-looking statements. Global Indemnity does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

[1] Disseminated pursuant to the "safe harbor" provisions of Section 21E of the Security Exchange Act of 1934.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240919584733/en/

Media

Stephen W. Ries

Head of Investor Relations

(610) 668-3270

sries@gbli.com

Source: Global Indemnity Group, LLC

FAQ

What is the amount of Global Indemnity Group's (GBLI) latest quarterly distribution?

Global Indemnity Group (GBLI) has announced a quarterly distribution of $0.35 per common share.

When will GBLI pay its latest quarterly distribution?

GBLI will pay the quarterly distribution on October 7, 2024.

What is the record date for GBLI's upcoming distribution?

The record date for GBLI's distribution is September 30, 2024, at the close of business.

How often does Global Indemnity Group (GBLI) pay distributions?

Based on the announcement of a quarterly distribution, it appears that GBLI pays distributions on a quarterly basis.