ProAssurance Declares Quarterly Dividend

Rhea-AI Summary

ProAssurance Corporation (NYSE:PRA) has announced a cash dividend of $0.05 per share, payable on April 7, 2022, for shareholders on record as of March 24, 2022. The company aims for an annual dividend of $0.20 per share, distributed quarterly, contingent on Board reviews of financial performance and other relevant factors. ProAssurance specializes in various insurance sectors, including healthcare professional liability, and maintains strong ratings from AM Best and Fitch Ratings.

Positive

• Declared a cash dividend of $0.05 per share.
• Annual dividend target of $0.20 indicates commitment to shareholder returns.
• Strong ratings from AM Best and Fitch Ratings affirm financial stability.

Negative

• None.

BIRMINGHAM, Ala.--(BUSINESS WIRE)-- The Board of Directors of ProAssurance Corporation (NYSE:PRA) has declared a cash dividend of $0.05 per common share, payable April 7, 2022 to shareholders who own our stock as of March 24, 2022.

Our dividend policy anticipates a total annual dividend of $0.20 per share, to be paid in equal quarterly installments. However, any decision to pay future cash dividends will be subject to the Board’s final determination after a comprehensive review of the company’s financial performance, future expectations, and other factors deemed relevant by the Board.

About ProAssurance
ProAssurance Corporation is an industry-leading specialty insurer with extensive expertise in healthcare professional liability, products liability for medical technology and life sciences, legal professional liability, and workers’ compensation insurance. ProAssurance Group is rated “A” (Excellent) by AM Best; NORCAL Group is rated “A-” (Excellent) by AM Best. ProAssurance and its operating subsidiaries are rated “A-” (Strong) by Fitch Ratings. For the latest on ProAssurance and its industry-leading suite of products and services, cutting-edge risk management and practice enhancement programs, follow @ProAssurance on Twitter or LinkedIn. ProAssurance’s YouTube channel regularly presents thought provoking, insightful videos that communicate effective practice management, patient safety and risk management strategies.

Caution Regarding Forward-Looking Statements
Statements in this news release that are not historical fact or that convey our view of future business, events or trends are specifically identified as forward-looking statements. Forward-looking statements are based upon our estimates and anticipation of future events and highlight certain risks and uncertainties that could cause actual results to vary materially from our expected results. We expressly claim the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, for any forward-looking statements in this news release. Forward-looking statements represent our outlook only as of the date of this news release. Except as required by law or regulation, we do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

There are a number of risk factors that may cause outcomes that differ from our expectations or projections. These are described in detail in various documents filed by ProAssurance Corporation with the Securities and Exchange Commission, such as current reports on Form 8-K, and regular reports on Forms 10-Q and 10-K, particularly in “Item 1A, Risk Factors.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20220302005988/en/

Ken McEwen

Director, Investor Relations

800-282-6242 • 205-439-7903 • KenMcEwen@ProAssurance.com

Source: ProAssurance Corporation

FAQ

What is the dividend amount declared by ProAssurance (PRA)?

ProAssurance has declared a cash dividend of $0.05 per share.

When is the ProAssurance dividend payable?

The dividend is payable on April 7, 2022.

What is the total annual dividend expected by ProAssurance?

ProAssurance anticipates a total annual dividend of $0.20 per share.

What date must I hold shares to receive the dividend from ProAssurance?

You must own shares as of March 24, 2022, to receive the dividend.

How often does ProAssurance pay dividends?

ProAssurance pays dividends quarterly.

What are the credit ratings for ProAssurance Corporation?

ProAssurance is rated 'A' (Excellent) by AM Best and 'A-' (Strong) by Fitch Ratings.