Investors title company board increases quarterly dividend and adds to share repurchase authorization

Chapel hill, n.c.--(business wire)--investors title company announced today that the company's board of directors declared a cash dividend of $.16 per share to shareholders of record on december 1, 2015, payable december 15, 2015, doubling the dividend of $.08 per share paid in recent quarters. in addition, the board increased its share repurchase authorization by 163,335 shares of company common stock, bringing the total repurchase authorization up to 500,000 shares. “the board’s decisions to increase both cash dividends and shares authorized for repurchase continue the board’s and management’s long-term practice and reflects its confidence in the company’s growth strategy and in its ability to generate sustainable cash flow,” said j. allen fine, chairman of the board of investors title company. “since 1999, the company has returned to shareholders 37.4% of net income through cash dividends and stock repurchases.” investors title company is a publicly-held north carolina company whose stock is traded on the nasdaq global select market. investors title company is engaged in the business of issuing and underwriting title insurance policies. the company also provides services in connection with tax-deferred exchanges of like-kind property as well as investment management services to individuals, companies, banks and trusts. certain statements contained herein may constitute forward-looking statements within the meaning of the private securities litigation reform act of 1995. such statements may include, among others, statements regarding future repurchases of our common stock. these statements involve a number of risks and uncertainties that could cause actual results to differ materially from anticipated and historical results. such risks and uncertainties include, without limitation: the cyclical demand for title insurance due to changes in the residential and commercial real estate markets; the occurrence of fraud, defalcation or misconduct; variances between actual claims experience and underwriting and reserving assumptions, including the limited predictive power of historical claims experience; declines in the performance of the company’s investments; government regulation; changes in the economy; the possible loss of agency relationships, or significant reduction in agent-originated business and other considerations set forth under the caption “risk factors” in the company’s annual report on form 10-k for the year ended december 31, 2014, as filed with the securities and exchange commission, and in its subsequent quarterly reports on form 10-q.
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