ProAssurance Declares Quarterly Dividend

Rhea-AI Summary

ProAssurance Corporation (NYSE:PRA) has announced a cash dividend of $0.05 per common share, to be paid on October 8, 2021, for shareholders on record as of September 24, 2021. The company aims for an annual dividend of $0.20 per share, distributed in quarterly installments. Future cash dividends will depend on the Board's review of financial performance and future expectations. ProAssurance is recognized for its expertise in healthcare and legal professional liability and holds strong ratings from AM Best and Fitch Ratings.

Positive

• Declared a cash dividend of $0.05 per share, encouraging for shareholder income.
• Targeting an annual dividend of $0.20 per share, indicating confidence in future performance.

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 on October 8, 2021 to shareholders who own our stock as of September 24, 2021.

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; 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/20210901005884/en/

For More Information:

Ken McEwen

Manager, Investor Relations

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

Source: ProAssurance Corporation

FAQ

What is the dividend amount declared by ProAssurance Corporation?

ProAssurance Corporation declared a cash dividend of $0.05 per common share.

When will ProAssurance Corporation pay its declared dividend?

The dividend will be paid on October 8, 2021.

What is the record date for the dividend payment by ProAssurance Corporation?

The record date for the dividend payment is September 24, 2021.

What is the annual dividend target for ProAssurance Corporation?

ProAssurance aims for a total annual dividend of $0.20 per share.