Investors Title Company Board Declares Special Cash Dividend and Regular Quarterly Cash Dividend
Investors Title Company (Nasdaq: ITIC) announced today that the Company’s Board of Directors declared a special cash dividend of
$10.60 per share to shareholders of record on December 3, 2018, payable December 17, 2018. The special dividend will be funded
through existing cash balances.
The Board also declared a regular quarterly cash dividend of $.40 per share to shareholders of record December 3, 2018, payable
on December 17, 2018.
“The special dividend is a reflection of the Company’s recent results, strong financial position, and our confidence in the
Company’s financial future. Returning capital to shareholders in this manner allows us to maintain our conservative capital
structure and preserve the financial flexibility to grow our business, while allowing for ongoing dividend payments and
opportunistic share repurchases,” said J. Allen Fine, Chairman of the Board of Investors Title Company.
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 the Company’s confidence in its
growth strategy, ability to generate sustainable cash flow, and commitment to returning capital to its shareholders as appropriate.
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, 2017, as filed with
the Securities and Exchange Commission, and in its subsequent Quarterly Reports on Form 10-Q.
Investors Title Company
L. Dawn Martin, 919-968-2200
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