Current Report Filing (8-k)
May 07 2020 - 4:34PM
Edgar (US Regulatory)
false0001127703
0001127703
2020-05-07
2020-05-07
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UNITED STATES
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SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM
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8-K
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CURRENT REPORT
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Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): May 7, 2020
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ProAssurance Corporation
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(Exact name of registrant as specified in its charter)
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Delaware
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001-16533
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63-1261433
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(State of Incorporation)
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(Commission File No.)
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(IRS Employer I.D. No.)
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100 Brookwood Place,
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Birmingham,
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AL
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35209
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(Address of Principal Executive Office )
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(Zip code)
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Registrant’s telephone number, including area code:
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(205)
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877-4400
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-(c) under the Exchange Act
(17CFR 240.13e-(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.01 per share
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PRA
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New York Stock Exchange
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company
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☐
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
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ITEM 2.02 RESULTS OF OPERATION AND FINANCIAL CONDITION
On May 7, 2020 we issued a news release reporting the results of our operations for the quarter ended March 31, 2020. The text of the release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
ITEM 7.01 REGULATION FD DISCLOSURES
We have updated our online disclosure of our entire investment portfolio to provide details of our holdings through March 31, 2020. The disclosure is available under Quarterly Investment Supplements under the Financial Information section of the Investor Relations section of our website (http://investor.proassurance.com/).
ITEM 8.01 OTHER EVENTS
On May 7, 2020, our Board of Directors declared a regular dividend of $0.05 per common share payable on July 8, 2020 to shareholders of record as of June 11, 2020. For 2020, our dividend policy anticipates a total annual dividend payment of $0.72 per share. On an annualized basis going forward, our policy anticipates annual dividends of $0.20 per share. That policy also considers the irregular payment of special dividends, which may or may not occur in the future. 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.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
The information we are furnishing under Items 7.01 and 9.01 of this Current Report on Form 8K, including Exhibit 99.1, are not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) as amended, or otherwise subject to the liability of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 7, 2020
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PROASSURANCE CORPORATION
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by: /s/ Jeffrey P. Lisenby
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-----------------------------------------------------
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Jeffrey P. Lisenby
General Counsel
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