Donegal Group Inc. Announces Quarterly Dividend and Share Repurchase Program
MARIETTA, Pa., July 18, 2013 (GLOBE NEWSWIRE) -- Donegal Group Inc.
(Nasdaq:DGICA) (Nasdaq:DGICB) reported that its board of directors today
declared a regular quarterly cash dividend of $.1275 per share of the
Company's Class A common stock and $.1150 per share of the Company's Class B
common stock. The dividends are payable on August 15, 2013 to stockholders of
record as of the close of business on August 1, 2013.
The Company also announced that its board of directors has authorized a share
repurchase program, pursuant to which the Company may purchase up to 500,000
shares of its Class A common stock at market prices prevailing from time to
time in the open market subject to the provisions of SEC Rule 10b-18 and in
privately negotiated transactions. The share repurchase program has no fixed
Donegal Group Inc. is an insurance holding company whose insurance
subsidiaries offer personal and commercial property and casualty lines of
insurance in 22 Mid-Atlantic, Midwestern, New England and Southern states. The
insurance subsidiaries of Donegal Group Inc. and Donegal Mutual Insurance
Company conduct business together as the Donegal Insurance Group.The Donegal
Insurance Group has an A.M. Best rating of A (Excellent).
The Company's Class A common stock and Class B common stock trade on the
NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively.
As an effective acquirer of small to medium-sized "main street" property and
casualty insurers, Donegal Group has grown profitably over the past 25 years.
The Company continues to seek opportunities for growth while striving to
achieve its longstanding goal of outperforming the property and casualty
insurance industry in terms of service, profitability and growth in book
As Forbes reported, Donegal Group Inc. was named to a list of the 100 Most
Trustworthy Companies for 2013 and 2012, ranking the company among firms that
have consistently demonstrated transparent and conservative accounting
practices and solid corporate governance and management.A reprint of the
Forbes article is available as a "Featured Report" on the Company's website at
CONTACT: For Further Information:
Jeffrey D. Miller
Senior Vice President & Chief Financial Officer
Phone: (717) 426-1931
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