OLD REPUBLIC ANNOUNCES SHARE REPURCHASE AUTHORIZATION
Old Republic (NYSE: ORI) has announced a new $750 million share repurchase program, which will begin after completing the remaining $162 million from its previous $1.10 billion program announced in March 2024.
The company has demonstrated strong capital management by returning over $4.2 billion to shareholders since December 2020 through dividends and share repurchases. ORI has retired over 20% of its shares in the last three years and maintains a current annualized regular cash dividend rate of $1.16 per share, marking its 44th consecutive year of dividend increases.
Old Republic (NYSE: ORI) ha annunciato un nuovo programma di riacquisto azioni da 750 milioni di dollari, che partir脿 dopo aver completato i restanti 162 milioni di dollari del precedente programma da 1,10 miliardi annunciato a marzo 2024.
L'azienda ha dimostrato una solida gestione del capitale restituendo oltre 4,2 miliardi di dollari agli azionisti dal dicembre 2020 tramite dividendi e riacquisti di azioni. ORI ha ritirato oltre il 20% delle sue azioni negli ultimi tre anni e mantiene un dividendo in contanti regolare annualizzato di 1,16 $ per azione, segnando il suo 44掳 anno consecutivo di aumenti del dividendo.
Old Republic (NYSE: ORI) ha anunciado un nuevo programa de recompra de acciones por 750 millones de d贸lares, que comenzar谩 una vez se completen los 162 millones de d贸lares restantes de su programa anterior de 1.100 millones anunciado en marzo de 2024.
La compa帽铆a ha mostrado una s贸lida gesti贸n del capital al devolver m谩s de 4.200 millones de d贸lares a los accionistas desde diciembre de 2020 mediante dividendos y recompras. ORI ha retirado m谩s del 20% de sus acciones en los 煤ltimos tres a帽os y mantiene un dividendo en efectivo regular anualizado de 1,16 $ por acci贸n, marcando su 44.潞 a帽o consecutivo de aumentos del dividendo.
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Old Republic (NYSE: ORI) a annonc茅 un nouveau programme de rachat d'actions de 750 millions de dollars, qui commencera apr猫s l'ex茅cution des 162 millions de dollars restants de son pr茅c茅dent programme de 1,10 milliard annonc茅 en mars 2024.
La soci茅t茅 a fait preuve d'une solide gestion du capital en restituant plus de 4,2 milliards de dollars aux actionnaires depuis d茅cembre 2020 via dividendes et rachats d'actions. ORI a annul茅 plus de 20 % de ses actions au cours des trois derni猫res ann茅es et conserve un dividende en num茅raire r茅gulier annualis茅 de 1,16 $ par action, marquant sa 44e ann茅e cons茅cutive d'augmentations du dividende.
Old Republic (NYSE: ORI) hat ein neues Aktienr眉ckkaufprogramm in H枚he von 750 Millionen US-Dollar angek眉ndigt, das nach Abschluss der verbleibenden 162 Millionen US-Dollar des zuvor im M盲rz 2024 angek眉ndigten 1,10-Milliarden-Programms starten wird.
Das Unternehmen hat eine starke Kapitalverwaltung gezeigt und seit Dezember 2020 眉ber 4,2 Milliarden US-Dollar an die Aktion盲re zur眉ckgef眉hrt durch Dividenden und Aktienr眉ckk盲ufe. ORI hat in den letzten drei Jahren mehr als 20 % seiner Aktien zur眉ckgezogen und h盲lt eine aktuell annualisierte regul盲re Bardividende von 1,16 $ je Aktie, was das 44. Jahr in Folge mit Dividendenerh枚hungen markiert.
- New $750 million share repurchase authorization demonstrates strong capital position
- Returned over $4.2 billion to shareholders since December 2020
- Retired over 20% of shares in last three years
- 44th consecutive year of dividend increases with 9.4% increase from 2024
- 84 years of uninterrupted regular cash dividend payments
- None.
Insights
ORI authorizes $750M share buyback, reflecting strong balance sheet and confidence after retiring 20% of shares in 3 years.
Old Republic's authorization of a new
The company has demonstrated remarkable shareholder-friendly behavior, retiring over
Since December 2020, ORI has returned over
The dividend track record is particularly notable, with 44 consecutive annual increases and 84 years of uninterrupted payments. The current annual rate of
This capital return strategy signals three key elements: 1) robust balance sheet strength, 2) mature business operations generating excess capital, and 3) management's view that shares represent good value relative to alternative uses of capital. For a specialty insurance business, this level of capital return suggests underwriting profitability and disciplined risk management are creating sustainable excess capital generation.
Under the share repurchase program, Old Republic may purchase shares on a discretionary basis from time to time through open market purchases, private negotiated transactions or other means. The timing and amount of any transactions will be conducted subject to the discretion of Old Republic based upon valuation, market conditions and other considerations. Old Republic may also from time to time repurchase shares pursuant to written, pre- arranged Rule 10b5-1 plans, which will be established and conducted in accordance with applicable regulations. The repurchase program is intended to comply with Rule 10b-18 and has no expiration date, does not require the purchase of any minimum number of shares, and may be suspended, modified, or discontinued at any time without prior notice.
In reaching its decision to authorize the share repurchase program, the Board of Directors evaluated such factors as the current and foreseeable liquidity and capital needs of the parent holding company and its insurance company subsidiaries.
Craig R. Smiddy, President and CEO, commented, "Today's announcement authorizing the return of up to an additional
Since December 31, 2020, Old Republic has returned over
About Old Republic
Old Republic is a leading specialty insurer that operates diverse property & casualty and title insurance companies. Founded in 1923 and a member of the Fortune 500, we are a leader in underwriting and risk management services for business partners across
At Old Republic: | At Financial Relations Board: | |
Craig R. Smiddy: President and Chief Executive Officer 聽 聽聽 | Analysts/Investors: Joe Calabrese 212/827-3772 | |
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SOURCE Old Republic International Corporation
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