Current Report Filing (8-k)
January 13 2015 - 3:13PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
January 13, 2015
Date of report (Date
of earliest event reported)
Universal Insurance Holdings, Inc.
(Exact name of registrant as specified
in its charter)
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Delaware |
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001-33251 |
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65-0231984 |
(State or other jurisdiction
of incorporation or organization) |
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(Commission file number) |
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(IRS Employer
Identification No.) |
1110 W. Commercial Boulevard, Fort Lauderdale, Florida 33309
(Address of Principal Executive Offices)
Registrants telephone number, including area code: (954) 958-1200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425). |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12). |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)). |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). |
ITEM 8.01 Other Events
On January 13, 2015, Universal Insurance Holdings, Inc. (Company) announced that its Board of Directors declared a cash dividend on the
Companys common stock of $0.12 per share, payable on March 2, 2015 to shareholders of record on February 18, 2015. The Company also announced that it expects to declare and pay a proposed regular quarterly dividend during fiscal year
2015 of $0.12 per share of the Companys common stock.
The announcement, a copy of which is attached hereto as Exhibit 99.1, is incorporated herein
by reference.
ITEM 9.01 Financial Statements and
Exhibits
99.1 |
Press Release dated January 13, 2015 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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Date: January 13, 2015 |
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UNIVERSAL INSURANCE HOLDINGS, INC. |
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/s/ Sean P. Downes |
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Sean P. Downes |
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President and Chief Executive Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE
UNIVERSAL INSURANCE HOLDINGS, INC. ANNOUNCES INCREASED QUARTERLY DIVIDEND OF $0.12 PER SHARE
Fort Lauderdale, FL, January 13, 2015 - Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that its Board of Directors declared an
increased cash dividend of $0.12 per share of common stock, up $0.02 from the $0.10 per share paid the past three quarters. Payment will be made on March 2, 2015 to shareholders of record on February 18, 2015. If declared and paid as
intended, the annual aggregate dividend in 2015 will be $0.48 for each common share.
This increase in our quarterly dividend is a reflection of our
solid financial position and commitment to delivering value to our shareholders, said Sean P. Downes, the Companys Chairman, President and Chief Executive Officer. We continue to successfully execute on our strategy to grow our
business and increase profitability, providing us with the ability to invest in our growth while also returning capital to shareholders.
The
declaration and payment of future dividends is subject to the Boards discretion and will be dependent upon future earnings, cash flows, financial requirements, and other factors.
About Universal Insurance Holdings, Inc.
Universal
Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a vertically integrated insurance holding company performing all aspects of insurance underwriting, distribution and claims. Universal Property & Casualty Insurance Company
(UPCIC), a wholly-owned subsidiary of the Company, is one of the leading writers of homeowners insurance in Florida and is now fully licensed and has commenced its operations in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts,
Maryland and Delaware. American Platinum Property and Casualty Insurance Company, also a wholly-owned subsidiary, currently writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages
currently not targeted through its affiliate UPCIC. For additional information on the Company, please visit our investor relations website at www.universalinsuranceholdings.com.
Forward-Looking Statements and Risk Factors
This press
release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words believe, expect, anticipate, and similar expressions identify
forward-looking statements, which speak only as of the date the statement was made. Such statements may include commentary on plans, products and lines of business, marketing arrangements, reinsurance programs and other business developments 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 and the Company
undertakes no obligation to correct or update any forward-looking statements. For further information regarding risk factors that could affect the Companys operations and future results, refer to the Companys reports filed with the
Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2013 and the Form 10-Q for the quarter ended September 30, 2014.
Investor Contact:
Andy Brimmer / Mahmoud Siddig
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
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