The National Security Group, Inc. Declares Cash Dividend
August 07 2012 - 3:30PM
Business Wire
On August 6, 2012, the Board of Directors of The National
Security Group, Inc. (NASDAQ:NSEC), declared a quarterly dividend
of $.10 per share. This cash dividend is payable on August 31, 2012
to shareholders of record August 17, 2012.
Along with the quarterly dividend announcement, the Board of
Directors and management of the Company released the following
cautionary statement regarding future dividend policy: As we have
disclosed previously, due to the impact of several events that have
adversely impacted our earnings, including last year's severe
spring storm season and recently settled litigation, we expect that
our dividend policy will remain necessarily flexible and will be
subject to quarterly review. In the fourth quarter of 2012, it is
likely that we will reduce quarterly dividends by at least 50% and,
depending on near term results, could include a range of actions up
to and including the suspension of dividends. Our subsidiaries
remain capitalized at levels that have not adversely impacted our
ability to operate but in order to rebuild property and casualty
subsidiary capital levels that were eroded by last year's storms it
is necessary that our dividend policy remain flexible.
With its home office in Elba, Alabama, The National Security
Group, Inc. is an insurance holding company. Company shares are
traded on the NASDAQ Global Market under the symbol NSEC.
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