SOURCE: Universal Insurance Holdings, Inc.

Universal Insurance Holdings, Inc.

September 10, 2012 17:08 ET

Universal Insurance Holdings, Inc. Declares Cash Dividend of $0.08 per Share

FORT LAUDERDALE, FL--(Marketwire - Sep 10, 2012) - Universal Insurance Holdings, Inc. ("Company") (NYSE MKT: UVE) announced today that its board of directors declared a cash dividend of $0.08 per share to be paid on October 9, 2012 to shareholders of record on September 26, 2012. The dividend declaration is consistent with the Company's prior announcement regarding the board of director's intention to declare a dividend of $0.08 per share in the third quarter. The board further intends to declare an additional dividend of the same amount to shareholders of record in the fourth quarter, which would bring this year's aggregate declared annual dividend to $0.34 for each share of common stock.

The declaration and payment of future dividends, however, are subject to the discretion of the board of directors and will be dependent upon future earnings, cash flows, financial requirements, and other factors.

About Universal Insurance Holdings, Inc.
Universal Insurance Holdings, Inc. is a vertically integrated insurance holding company which, through its subsidiaries, covers substantially all aspects of insurance underwriting, distribution, claims processing and exposure management. Universal Property & Casualty Insurance Company ("UPCIC"), a wholly owned subsidiary of the Company, is one of the three leading writers of homeowners insurance in Florida and is now fully licensed and has commenced its operations in North Carolina, South Carolina, Hawaii, Georgia and Massachusetts. American Platinum Property and Casualty Insurance Company, also a wholly owned subsidiary, currently writes homeowners multi-peril and inland marine 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, 2011 and the Form 10-Q for the quarter ended June 30, 2012.

Contact Information

  • Investor Contact:
    Philip Kranz
    Dresner Corporate Services
    312-780-7240
    Email Contact