The Hartford Declares Quarterly Dividends Of $0.47 Per Share Of Common Stock And $375 Per Share Of Series G Preferred Stock

Rhea-AI Summary

The Hartford announces dividends for common stock and Series G preferred stock shareholders.

Insights

Financial Analyst

The declaration of a dividend at $0.47 per share of common stock by The Hartford's Board of Directors signifies a distribution of the company's earnings to its shareholders. This action is typically a signal of financial health and stability, as dividends are often paid by companies with a consistent profit and a positive cash flow. Investors tend to view regular dividends as a sign of a company's reliability and may be attracted to the stock for its income-generating potential. The impact on the stock market can be multifaceted; while it may boost investor sentiment and potentially increase the stock price, it also means that the company is choosing to distribute cash to shareholders rather than reinvesting it back into the company for growth.

It's important to compare the declared dividend with past distributions to understand the trend. An increase can indicate improving financial performance, whereas a decrease may raise concerns about the company's future earnings potential. The timing of the payment, April 2, is also relevant for investors who must own the stock by the close of business on March 4 to be entitled to the dividend. This can influence trading behavior around the ex-dividend date.

Market Research Analyst

Examining the dividend announcement in the context of the broader market and The Hartford's industry sector can provide additional insights. The insurance sector, where The Hartford operates, is subject to cyclical and seasonal factors that can influence profitability. The dividend payout needs to be sustainable and supported by the company's core business operations. It is also essential to consider the current yield of The Hartford's stock relative to its peers and the sector average. A yield that is significantly higher or lower than the industry standard may warrant further analysis to understand the underlying reasons.

Furthermore, the declared dividend for the Series G preferred stock, which is set at $375 per share (equivalent to $0.375 per depository share), is indicative of the terms of preferred stock, which typically has a fixed dividend. Preferred shareholders often have priority over common stockholders for dividend payments, which can make these shares more attractive during times of market volatility or uncertainty. The payment date of May 15 for preferred shareholders is also a key date for those investors.

HARTFORD, Conn.--(BUSINESS WIRE)-- The Hartford’s Board of Directors declared a dividend of $0.47 per share of common stock, payable April 2 to common stock shareholders of record at the close of business on March 4.

The board also declared a dividend of $375 on each of the Series G preferred stock (equivalent to $0.375 per depository share) payable on May 15, to Series G preferred stock shareholders of record at the close of business on May 1.

About The Hartford

The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.

HIG-F

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2022 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240221986819/en/

Media:

Matthew Sturdevant

860-547-8664

matthew.sturdevant@thehartford.com

Investors:

Susan Spivak Bernstein

860-547-6233

susan.spivak@thehartford.com

Source: The Hartford

FAQ

What dividend was declared for common stock shareholders of The Hartford?

The Hartford declared a dividend of $0.47 per share for common stock shareholders.

When will the dividend for common stock shareholders be payable?

The dividend for common stock shareholders will be payable on April 2.

What dividend was declared for Series G preferred stock shareholders of The Hartford?

The Hartford declared a dividend of $375 on each Series G preferred stock (equivalent to $0.375 per depository share).

When will the dividend for Series G preferred stock shareholders be payable?

The dividend for Series G preferred stock shareholders will be payable on May 15.