Global Indemnity Group, LLC Announces 40% Increase in Quarterly Dividend
March 06 2024 - 8:45AM
Business Wire
Global Indemnity Group, LLC (NYSE:GBLI) (“GBLI”) announced today
that its Board of Directors approved a dividend rate of $0.35 per
common share payable on March 28, 2024 to all shareholders of
record as of the close of business on March 21, 2024, a 40%
increase over the prior quarterly dividend rate of $0.25 per common
share.
“The increase in GBLI’s dividend reflects the company’s ongoing
strong financial performance, capital and reserve positions,
liquidity, and balance sheet,” said Saul Fox, GBLI’s Chairman of
the Board. Fox added, “Since taking the company public, GBLI both
repaid all of its debt and returned more than $600 million to
shareholders via share repurchases, dividends, and other
distributions.”
Future dividends remain subject to the discretion of GBLI’s
Board of Directors, including the Board’s evaluation of the
company’s financial performance, capital and reserve positions,
liquidity, balance sheet, and other factors.
About Global Indemnity Group, LLC and its
subsidiaries
Global Indemnity Group, LLC (NYSE:GBLI), through its several
direct and indirect wholly owned subsidiary insurance companies,
provides both admitted and non-admitted specialty property and
specialty casualty insurance coverages and individual policyholder
coverages in the United States, as well as reinsurance
worldwide.
For more information, visit the Company’s website at
www.gbli.com.
Forward-Looking Information
The forward-looking statements contained in this press release
do not address a number of risks and uncertainties. Investors are
cautioned that Global Indemnity’s actual results may be materially
different from the estimates expressed in, or implied, or projected
by, the forward-looking statements. These statements are based on
estimates and information available to us at the time of this press
release. All forward-looking statements in this press release are
based on information available to Global Indemnity as of the date
hereof. Please see Global Indemnity’s filings with the Securities
and Exchange Commission for a discussion of risks and uncertainties
which could impact the company and for a more detailed explication
regarding forward-looking statements. Global Indemnity does not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made.
[1] Disseminated pursuant to the "safe harbor" provisions of
Section 21E of the Security Exchange Act of 1934.
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version on businesswire.com: https://www.businesswire.com/news/home/20240306843011/en/
Media Stephen W. Ries Head of Investor Relations (610)
668-3270 sries@gbli.com
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