WILMINGTON, Del. - Global Indemnity Group, LLC (NYSE:GBLI) announced on Monday an increase in its quarterly dividend to $0.35 per common share, a 40% rise from the previous $0.25 per share. This dividend is scheduled to be paid on March 28, 2024, to shareholders of record at the close of business on March 21, 2024.
The company's Chairman of the Board, Saul Fox, attributed this increase to Global Indemnity's strong financial performance and solid balance sheet. Fox highlighted the company's achievements since its initial public offering, including the repayment of all debt and the return of over $600 million to shareholders through various means including dividends and share repurchases.
Despite the positive news, the company noted that future dividends are at the discretion of the Board of Directors and will depend on various factors, including financial performance and liquidity.
Global Indemnity Group, LLC, through its subsidiaries, offers specialty property and casualty insurance and reinsurance products both in the United States and internationally.
Investors should be aware that forward-looking statements in the press release are subject to risks and uncertainties that may cause actual results to differ materially from those projected. The company does not undertake to update any forward-looking statements as a result of new information or future events.
This dividend announcement is based on a press release statement by Global Indemnity Group, LLC.
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