Contact Information: Investor Contact: Philip Kranz Dresner Corporate Services 312-780-7240 pkranz@dresnerco.com
Universal Insurance Holdings, Inc. Declares Ten Cent Cash Dividend
| Source: Universal Insurance Holdings, Inc.
FORT LAUDERDALE, FL--(Marketwire - January 23, 2008) - Universal Insurance Holdings, Inc.
("UIH") (AMEX : UVE ), a vertically integrated insurance holding company,
announced today that its board of directors declared a dividend of $0.10
per share on its common stock. The dividend is payable on August 7, 2008
to shareholders of record as of July 9, 2008.
The board of directors' decision to increase the dividend by 11 percent
from nine cents to ten cents reflects the Company's positive results and
profits during the third quarter ended September 30, 2007, as detailed in
its most recently filed Form 10-QSB with the Securities and Exchange
Commission. Future cash dividend payments are necessarily subject to
business conditions, the Company's financial position, and requirements for
working capital and other corporate purposes. The Company's board of
directors intends to evaluate the possibility of paying future dividends on
a quarter-by-quarter basis.
About Universal Insurance Holdings, Inc.
The Company is a vertically integrated insurance holding company operating
solely in the state of Florida. Through its subsidiaries, the Company is
currently engaged in insurance underwriting, distribution and claims.
Universal Property & Casualty Insurance Company (UPCIC), which generates
revenue from the collection and investment of premiums, is one of the top
five leading writers of homeowners insurance in the state of Florida and
has aligned itself with well respected service providers in the industry.
Cautionary Language Concerning Forward-Looking Statements
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of the Private Securities Litigation Reform Act of 1995. The words
"believe," "expect," "anticipate" and "project," and similar expressions
identify forward-looking statements, which speak only as of the date the
statement was made. Such statements may include, but not be limited to,
projections of revenues, income or loss, expenses, plans, 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 in
forward-looking statements.