Kingstone Announces Estimated Fourth Quarter Catastrophe Losses; Kingstone Declares Quarterly Dividend of $0.04 per share

Rhea-AI Summary

Kingstone Companies (NASDAQ: KINS) reported estimated net pre-tax catastrophe losses of $1.75 million for Q4 2021, amounting to $1.40 million after tax, primarily from two events. Additionally, the Board of Directors declared a quarterly dividend of $0.04 per share, payable on March 15, 2022, to shareholders of record as of February 28, 2022. For more financial information, visit Kingstone's website.

Positive

• Quarterly dividend of $0.04 per share enhances shareholder income.

Negative

• Estimated net pre-tax catastrophe losses of $1.75 million may impact cash reserves.

KINGSTON, NY / ACCESSWIRE / February 2, 2022 / Kingstone Companies, Inc. (NASDAQ:KINS) (the "Company" or "Kingstone"), a Northeast regional property and casualty insurance holding company, today announced that Kingstone Insurance Company, its wholly-owned subsidiary, estimates net pre-tax catastrophe losses for the fourth quarter of 2021 of $1.75 million ($1.40 million after-tax). Catastrophe losses for the quarter comprised two events.

Kingstone also announced today that its Board of Directors has declared a common stock dividend of $0.04 per share. The dividend is payable on March 15, 2022 to holders of record as of February 28, 2022.

Financial information, including material announcements about Kingstone Companies, is routinely posted on www.kingstonecompanies.com.

About Kingstone Companies, Inc.
Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company ("KICO"). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO offers primarily personal lines insurance products in New York, New Jersey, Rhode Island, Massachusetts, and Connecticut. Kingstone is also licensed in Pennsylvania, New Hampshire and Maine.

Forward-Looking Statements
Kingstone is a northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company ("KICO"). KICO is a New York domiciled carrier writing business through retail and wholesale agents and brokers. KICO offers primarily personal lines insurance products in New York, New Jersey, Rhode Island, Massachusetts, and Connecticut. Kingstone is also licensed in Pennsylvania, New Hampshire, and Maine.

CONTACT:
Kingstone Companies, Inc.
Amanda M. Goldstein
Investor Relations Director
(516) 960-1319

SOURCE: Kingstone Companies, Inc

View source version on accesswire.com:
https://www.accesswire.com/686834/Kingstone-Announces-Estimated-Fourth-Quarter-Catastrophe-Losses-Kingstone-Declares-Quarterly-Dividend-of-004-per-share

FAQ

What are the estimated catastrophe losses reported by KINS for Q4 2021?

KINS reported estimated net pre-tax catastrophe losses of $1.75 million for Q4 2021.

When will the dividend declared by KINS be paid?

The declared dividend of $0.04 per share will be paid on March 15, 2022.

What is the record date for the KINS dividend?

The record date for the KINS dividend is February 28, 2022.