OLD REPUBLIC DECLARES FIRST QUARTER CASH DIVIDEND OF 22 CENTS PER SHARE

Rhea-AI Summary

Old Republic International Corporation (NYSE: ORI) declared a quarterly cash dividend of 22 cents per common share, payable on March 15, 2021, to shareholders on record by March 9, 2021. The annual dividend for 2021 will total 88 cents per share, an increase from 84 cents in 2020. This marks the 40th consecutive year of dividend increases, with 80 years of uninterrupted cash dividends since inception. Old Republic ranks among the top 50 shareholder-owned insurance businesses in the U.S.

Positive

• Quarterly cash dividend increased to 22 cents per share.
• Annual dividend rate of 88 cents reflects a 4.76% increase from 2020.
• 40 consecutive years of increased dividends showcases company stability.

Negative

• None.

CHICAGO, Feb. 26, 2021 /PRNewswire/ -- The Board of Directors of Old Republic International Corporation (NYSE: ORI) declared a regular quarterly cash dividend of 22 cents per common share. This dividend is payable on March 15, 2021 to shareholders of record on March 9, 2021.  Subject to Board approval of each quarter's new rate, the full year's cash dividend will amount to 88 cents per share compared to 84 cents paid in 2020.

The current annualized dividend rate of $0.88 per share marks the 40th consecutive year that Old Republic has boosted this rate, and 2021 becomes the 80th year of uninterrupted regular cash dividend payments.

About Old Republic

Chicago-based Old Republic International Corporation is one of the nation's 50 largest shareholder-owned insurance businesses. It is a member of the Fortune 500 listing of America's largest companies. The Company is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A long-term interest in mortgage guaranty and consumer credit indemnity coverages has devolved to a run-off operating mode in recent years. Old Republic's general insurance business ranks among the nation's 50 largest, while its title insurance operations are the third largest in its industry.

The nature of Old Republic's business requires that it be managed for the long run, and its cash dividend policy reflects this long-term orientation. Here's a summary of recent years' total book and market returns, which includes the addition and reinvestment of cash dividend payments, in comparison with the financial performance of three selected indices similarly developed.

	ORI		Selected Indices' Compounded
	Annual	Annual	Total Annual Returns
	Book Value	Market Value	Nominal		S & P
	Compounded	Compounded	Gross	S & P	P&C
	Total	Total	Domestic	500	Insurance
	Return	Return	Product	Index	Index
Ten Years 2001 - 2010	8.0%	1.9%	3.9%	1.4%	1.0%
Ten Years 2011 - 2020	8.8%	9.9%	3.3%	13.9%	14.3%
Twenty Years 2001 - 2020	8.4%	5.8%	3.6%	7.5%	7.4%

According to the most recent edition of Mergent's Dividend Achievers, Old Republic is listed in 58th place among just 113 qualifying publicly held companies, out of thousands considered, that have posted at least 25 consecutive years of annual dividend growth.

For Old Republic's latest news releases and other corporate documents:   Please visit us at www.oldrepublic.com
Alternatively, please write or call:  Investor Relations Old Republic International Corporation 307 North Michigan Avenue, Chicago, IL 60601  (312) 346-8100

 

At Old Republic:	At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer	Analysts/Investors: Joe Calabrese 212/827-3772

 

View original content:http://www.prnewswire.com/news-releases/old-republic-declares-first-quarter-cash-dividend-of-22-cents-per-share-301236449.html

SOURCE Old Republic International Corporation

FAQ

What is the dividend amount declared by Old Republic International Corporation?

Old Republic declared a quarterly cash dividend of 22 cents per share.

When will the dividend be paid to shareholders?

The dividend will be paid on March 15, 2021.

What was the annual dividend for Old Republic in 2020?

The annual dividend for 2020 was 84 cents per share.

How long has Old Republic been paying dividends?

Old Republic has paid uninterrupted cash dividends for 80 years.

What does the increase in dividend from 2020 to 2021 signify for investors?

The increase in dividend signifies company growth and stability, which is positive for investors.