UVE declares $.20/share divi
(PR Wires) PRW: Universal Insurance Holdings, Inc. Declares a 20 Cent Year-E
d Dividend
PRW: Universal Insurance Holdings, Inc. Declares a 20 Cent Year-End Dividend
iversal Insurance Holdings, Inc. Declares a 20 Cent Year-End
Dividend
FORT LAUDERDALE, FL -- (MARKET WIRE) -- 11/06/08 --
Universal Insurance Holdings, Inc. ("Company") (AMEX: UVE), a vertically
integrated insurance holding company, announced today that its board of
directors declared a $0.20 year-end dividend on its common stock, payable
on December 17, 2008 to shareholders of record on December 2, 2008.
The board of directors' decision to declare a dividend at this time
reflects the Company's positive results and profits through the third
quarter ended September 30, 2008 and management's assessment of the
Company's current business and corporate needs. The Company expects to
undertake a similar assessment toward the end of each fiscal year to
determine whether a year-end dividend is feasible. The Company's board of
directors will continue to evaluate paying future dividends on a
quarter-by-quarter basis. Future cash dividends are necessarily subject to
business conditions, the Company's financial position, and requirements
for working capital and other corporate purposes.
About Universal Insurance Holdings, Inc.
The Company is a vertically integrated insurance holding company
operating
solely in the state of Florida. Through its subsidiaries, the Company is
currently engaged in insurance underwriting, distribution and claims.
Universal Property & Casualty Insurance Company (UPCIC), which generates
revenue from the collection and investment of premiums, is one of the top
five leading writers of homeowners insurance in the state of Florida and
has aligned itself with well respected service providers in the industry.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. The words
"believe," "expect," "anticipate," and "project," and similar expressions
identify forward-looking statements, which speak only as of the date the
statement was made. Such statements may include, but not be limited to,
projections of revenues, income or loss, expenses, plans, and assumptions
relating to the foregoing. Forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted or
quantified. Future results could differ materially from those described in
forward-looking statements.
Investor Contact:
Philip Kranz
Dresner Corporate Services
312-780-7240
pkranz@dresnerco.com
(END) Dow Jones Newswires
November 06, 2008 12:39 ET (17:39 GMT)
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