The board of directors of Old Republic International Corp. declared a quarterly cash dividend on the common stock of 17.75 cents per share.
This dividend is payable Sept. 14 to shareholders of record on Sept. 4.
Subject to board approval of each quarter’s new rate, the full year’s cash dividend will amount to 71 cents per share compared to 70 cents paid in 2011.
This latest dividend increase marks the 31st consecutive year that Old Republic has boosted its cash dividend rate, and 2012 becomes the 71st year of uninterrupted cash dividend payments.
Chicago-based Old Republic International Corp. is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages, principally in the property and liability, mortgage guaranty and title insurance fields. Old Republic has assets of approximately $15.8 billion and common shareholders' equity of nearly $3.7 billion or $14.50 per share.
Its current stock market valuation is approximately $2.4 billion or $9.07 per share.