FORT LAUDERDALE, Fla.,
Nov. 25, 2013 /PRNewswire/ --
Universal Insurance Holdings, Inc. (NYSE MKT: UVE)
announced today that its Board of Directors declared a cash
dividend of $0.23 per share of common
stock to be paid on December 23,
2013, to shareholders of record on December 13, 2013. The $0.23 per share dividend includes the expected
$0.08 per share fourth quarter
dividend and an additional special dividend of $0.15 per share. With the total fourth
quarter dividend, the Company's cash dividends in 2013 will total
$0.49 per share.
Sean P. Downes, the Company's
Chairman, President and Chief Executive Officer, stated, "Through
the focused execution of our growth strategy, we have delivered
strong year-to-date financial results, which has enabled us to add
a special dividend of $0.15 per share
to our regular quarterly dividend."
About Universal Insurance Holdings, Inc.
Universal
Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a
vertically integrated insurance holding company performing all
aspects of insurance underwriting, distribution and claims.
Universal Property & Casualty Insurance Company (UPCIC), a
wholly-owned subsidiary of the Company, is one of the leading
writers of homeowners insurance in Florida and is now fully licensed and has
commenced its operations in North
Carolina, South Carolina,
Hawaii, Georgia, Massachusetts and Maryland. American Platinum Property and
Casualty Insurance Company, also a wholly-owned subsidiary,
currently writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages
currently not targeted through its affiliate UPCIC. For additional
information on the Company, please visit our investor relations
website at www.universalinsuranceholdings.com.
Forward-Looking Statements and Risk Factors
This press
release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. The words
"believe," "expect," "anticipate," and similar expressions identify
forward-looking statements, which speak only as of the date the
statement was made. Such statements may include commentary on
plans, products and lines of business, marketing arrangements,
reinsurance programs and other business developments 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 and the Company undertakes no
obligation to correct or update any forward-looking statements. For
further information regarding risk factors that could affect the
Company's operations and future results, refer to the Company's
reports filed with the Securities and Exchange Commission,
including the Form 10-K for the year ended December 31, 2012 and the Form 10-Q for the
quarter ended September 30, 2013.
Investor Contact:
Steve Frankel / James
Golden
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
SOURCE Universal Insurance Holdings, Inc.