TAMPA, Fla., Jan. 17, 2019 (GLOBE NEWSWIRE) -- The board of directors of HCI Group, Inc. (NYSE:HCI) has declared a regular quarterly cash dividend in the amount of 40 cents per common share for the first quarter of 2019, which represents a 6.7% increase over the previous quarterly rate of 37.5 cents. The dividend will be paid March 15, 2019 to shareholders of record on the close of business February 15, 2019.
“This latest dividend increase represents our ninth dividend increase since we began paying dividends in 2010, building on our long track record of shareholder value creation,” said Paresh Patel, HCI Group’s chairman and chief executive officer. “Most importantly, the increase is a reflection of the Board’s continued confidence in our operational progress, capital position, and future business opportunities.”
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. 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 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.
Kevin Mitchell, Senior Vice President of Investor Relations
HCI Group, Inc.
Tel (813) 405-3603
Investor Relations Contact:
Matt Glover and Najim Mostamand, CFA
Liolios Group, Inc.
Tel (949) 574-3860