TAMPA, Fla., Jan. 22, 2015 (GLOBE NEWSWIRE) -- The board of directors of HCI Group, Inc. (NYSE:HCI) has declared a regular quarterly cash dividend in the amount of 30 cents per common share for the first quarter of 2015, which represents a 9% increase from the previous quarterly rate of 27.5 cents per share. The dividend will be paid March 20, 2015 to shareholders of record on the close of business February 20, 2015.
"HCI's board of directors determined the continued strengthening of our capital position supports this sixth increase in our regular quarterly dividend since we first began paying dividends in 2010," said Paresh Patel, HCI Group's chairman and chief executive officer. "The increase also reflects the board's confidence in our future operational results."
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners' insurance, reinsurance, real estate and information technology services. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 Index and S&P SmallCap 600 Index. Its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol "HCJ." For more information about HCI Group, visit www.hcigroup.com.
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements, including statements about future dividend payments, are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. There can be no assurance, for example, that the company's capital position will continue to strengthen. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.
CONTACT: Company Contact: Kevin Mitchell, Vice President of Investor Relations HCI Group, Inc. Tel (813) 405-3603 email@example.com Investor Relations Contact: Matt Glover or Michael Koehler Liolios Group, Inc. Tel (949) 574-3860 firstname.lastname@example.org