NEW YORK--(BUSINESS WIRE)--Assurant, Inc. (NYSE: AIZ), a global provider of risk management solutions, announced that its Board of Directors approved a quarterly dividend increase of $0.04 to $0.60 per share of common stock.
“Increasing our common stock dividend once again demonstrates our commitment to disciplined capital management,” said Alan Colberg, president and chief executive officer, Assurant. “With the acquisition of The Warranty Group, we have added a diversified and more predictable earnings stream that enhances our ability to generate cash flow, and as appropriate, return it to shareholders.”
The Board also declared a quarterly dividend of $1.6250 per share of 6.50% mandatory convertible preferred stock.
Dividend information for Assurant’s common and preferred stock is as follows:
Common - The dividend will be payable on Dec. 17, 2018 to stockholders of record as of the close of business on Nov. 26, 2018.
Preferred –The dividend will be payable on Dec. 17, 2018 to stockholders of record as of the close of business on Dec. 1, 2018.
Future dividend declarations will be made at the discretion of the Assurant Board of Directors and will be dependent upon the company's earnings, financial condition, capital requirements, future prospects, regulatory and other restrictions, among other factors.
Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection and related services; extended service contracts; vehicle protection products; pre-funded funeral insurance; renters insurance; and lender-placed homeowners insurance. Assurant has a market presence in 21 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.