ProAssurance Corporation Buyback
OLI recorded this information on 5/27/2015
ProAssurance Corporation (NYSE: PRA) announced today that the Board of Directors has declared a cash dividend of $0.31 per common share, payable on July 9, 2015 to shareholders who own our stock as of June 25, 2015. The Board also authorized an additional $100 million to be used for share repurchase or debt retirement. This brings the outstanding authorization to approximately $187 million as of May 27, 2015. This year, through May 22, 2015, we have repurchased approximately 2.1 million shares at a cost of $94.4 million.
ProAssurance is a holding company for property and casualty insurance companies. Co.'s segments are: Specialty Property and Casualty, which include its professional liability business and medical technology liability business; Workers' Compensation Insurance, which includes its workers' compensation business; Segregated Portfolio Cell (SPC) Reinsurance, which includes Co.'s Cayman Islands SPC operations; Lloyd's of London market (Lloyd's) Syndicates, which includes Co.'s participation in Lloyd's of London Syndicate 1729 and Syndicate 6131; and Corporate, which includes Co.'s investment operations, other than those SPC Reinsurance and Lloyd's Syndicates segments.
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Hold (2.50 out of 4)