Donegal Group Inc. Announces Quarterly Dividend and Share Repurchase Program
July 18 2013 - 04:15PM
Donegal Group Inc. (Nasdaq:DGICA) (Nasdaq:DGICB) reported that its
board of directors today declared a regular quarterly cash dividend
of $.1275 per share of the Company's Class A common stock and
$.1150 per share of the Company's Class B common stock. The
dividends are payable on August 15, 2013 to stockholders of record
as of the close of business on August 1, 2013.
The Company also announced that its board of directors has
authorized a share repurchase program, pursuant to which the
Company may purchase up to 500,000 shares of its Class A common
stock at market prices prevailing from time to time in the open
market subject to the provisions of SEC Rule 10b-18 and in
privately negotiated transactions. The share repurchase program has
no fixed expiration date.
Donegal Group Inc. is an insurance holding company whose
insurance subsidiaries offer personal and commercial property and
casualty lines of insurance in 22 Mid-Atlantic, Midwestern, New
England and Southern states. The insurance subsidiaries of Donegal
Group Inc. and Donegal Mutual Insurance Company conduct business
together as the Donegal Insurance Group. The Donegal Insurance
Group has an A.M. Best rating of A (Excellent).
The Company's Class A common stock and Class B common stock
trade on the NASDAQ Global Select Market under the symbols DGICA
and DGICB, respectively. As an effective acquirer of small to
medium-sized "main street" property and casualty insurers, Donegal
Group has grown profitably over the past 25 years. The Company
continues to seek opportunities for growth while striving to
achieve its longstanding goal of outperforming the property and
casualty insurance industry in terms of service, profitability and
growth in book value.
As Forbes reported, Donegal Group Inc. was named to a list of
the 100 Most Trustworthy Companies for 2013 and 2012, ranking the
company among firms that have consistently demonstrated transparent
and conservative accounting practices and solid corporate
governance and management. A reprint of the Forbes article is
available as a "Featured Report" on the Company's website at
http://investors.donegalgroup.com.
CONTACT: For Further Information:
Jeffrey D. Miller
Senior Vice President & Chief Financial Officer
Phone: (717) 426-1931
E-mail: investors@donegalgroup.com
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