Contact Information: Investor Contact: Philip Kranz Dresner Corporate Services 312-780-7240 pkranz@dresnerco.com
Universal Insurance Holdings, Inc. Declares Twelve Cent Cash Dividend
| Source: Universal Insurance Holdings, Inc.
FORT LAUDERDALE, FL--(Marketwire - March 5, 2009) - Universal Insurance Holdings, Inc.
("Company") (NYSE Alternext US : UVE ), a vertically integrated insurance
holding company, announced today that its board of directors declared a
dividend of $0.12 per share on its common stock. The dividend is payable
on May 4, 2009 to shareholders of record as of April 9, 2009.
The decision to declare a dividend of twelve cents reflects the Company's
positive results for the year ended December 31, 2008 and management's
assessment of the Company's current business and corporate needs. It is an
increase of 20 percent over the Company's most recent dividend that was
paid on March 4, 2009. In 2008, the Company declared dividends of $0.40
per share and paid out to shareholders accrued dividends totaling $0.49 per
share.
About Universal Insurance Holdings, Inc.
The Company is a vertically integrated insurance holding company. Through
its subsidiaries, the Company is currently engaged in insurance
underwriting, distribution and claims. UPCIC, which generates revenue from
the collection and investment of premiums, is one of the top five writers
of homeowners' insurance policies in the state of Florida.
Readers should refer generally to reports filed by the Company with the
Securities and Exchange Commission (SEC), specifically the Company's Form
10-KSB for the year ended December 31, 2007, and the Company's Form 10-Q
for the quarterly period ended September 30, 2008, for a discussion of the
risk factors that could affect its operations. Such factors include,
without limitation, exposure to catastrophic losses; reliance on the
Company's reinsurance program; underwriting performance on catastrophe and
non-catastrophe risks; the ability to maintain relationships with
customers, employees or suppliers; and competition and its effect on
pricing, spending, third-party relationships and revenues. Additional
factors that may affect future results are contained in the Company's
filings with the SEC, which are available on the SEC's web site at
http://www.sec.gov. The Company disclaims any obligation to update and
revise statements contained in this press release based on new information
or otherwise.