OLD REPUBLIC DECLARES FIRST QUARTER REGULAR CASH DIVIDEND OF 26.5 CENTS PER SHARE

Rhea-AI Summary

Old Republic International Corporation (ORI) announces an 8.2% increase in its regular quarterly cash dividend to 26.5 cents per share, totaling $1.06 per share for 2024. This marks the 43rd consecutive year of dividend increases and the 83rd year of uninterrupted dividend payments.

Insights

Financial Analyst

The announcement of Old Republic International Corporation's increase in its regular quarterly cash dividend represents a positive signal for investors, reflecting the company's confidence in its financial stability and profitability. The increment from $0.98 to $1.06 per share annually indicates a solid 8.2% increase in shareholder returns, which is notably above the average dividend growth rate for the S&P 500. This could potentially attract dividend investors looking for steady income streams.

Moreover, the 43-year streak of dividend increases places Old Republic within the category of 'Dividend Aristocrats,' a group of companies in the S&P 500 that have consistently raised their dividends for at least 25 consecutive years. This status can enhance the company's reputation among investors, signaling a reliable track record of fiscal prudence and a commitment to returning value to shareholders. However, it's crucial to consider the payout ratio and whether the dividends are sustainable in the long run without compromising the company's growth opportunities or financial health.

Market Research Analyst

An 83-year history of uninterrupted dividend payments underscores Old Republic's market resilience and operational consistency. The company's ability to maintain and increase dividends through various economic cycles may reassure investors of its risk management and business model's robustness. The regular dividend increase can also be seen as a strategic move to maintain investor interest in a mature industry where high growth rates are not typically expected.

However, it's essential to analyze the industry context and market conditions. If the industry is facing headwinds or if the broader market is anticipating a downturn, the increased dividend may not fully offset potential capital losses from stock price declines. Additionally, investors should be cognizant of the company's investment in innovation and expansion, as excessive focus on dividends could indicate a lack of growth opportunities or reluctance to reinvest in the business.

CHICAGO, March 1, 2024 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) – today announced its Board of Directors has declared a regular quarterly cash dividend of 26.5 cents per common share. This dividend is payable on March 21, 2024 to shareholders of record on March 11, 2024. Subject to Board approval of each quarter's new rate, the full year's cash dividend will amount to $1.06 per share compared to $0.98 paid in 2023, an 8.2% increase.

2024 marks the 43^rd consecutive year that Old Republic has increased its regular cash dividend and the 83^rd 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. Old Republic's general insurance business ranks among the nation's 50 largest, while its title insurance business is the third largest in its industry.

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

 

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SOURCE Old Republic International Corporation

FAQ

What is the dividend amount declared by Old Republic International Corporation (ORI) for the first quarter of 2024?

Old Republic International Corporation (ORI) declared a regular quarterly cash dividend of 26.5 cents per common share for the first quarter of 2024.

When will the dividend be payable to shareholders of Old Republic International Corporation (ORI)?

The dividend declared by Old Republic International Corporation (ORI) will be payable on March 21, 2024, to shareholders of record on March 11, 2024.

How does the 2024 dividend compare to the 2023 dividend for Old Republic International Corporation (ORI)?

The 2024 dividend of $1.06 per share for Old Republic International Corporation (ORI) is an 8.2% increase from the $0.98 paid in 2023.

How many years has Old Republic International Corporation (ORI) increased its regular cash dividend consecutively?

Old Republic International Corporation (ORI) has increased its regular cash dividend for 43 consecutive years.

How many years has Old Republic International Corporation (ORI) been making uninterrupted regular cash dividend payments?

Old Republic International Corporation (ORI) has been making uninterrupted regular cash dividend payments for 83 years.