STAMFORD, Conn., April 16, 2018 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE:IHC) today announced that the Board of Directors has voted to increase the cash dividend by 50% to $.30 per share annually, effective with the next semi-annual dividend payable in July 2018. This is the fourth increase since December 2014 when the annual dividend paid to the stockholders was $.07 per share.
Roy T.K. Thung, Chief Executive Officer of IHC, commented, “With this increase, we have now increased our dividend in each of the last four years. The Board of Directors determined to approve this 50% increase in the annual cash dividend as a result of the substantial increase in our earnings from continuing operations in 2017, which represented our highest ever. We remain optimistic that this increase in earnings from continuing operations will continue through 2019 as a result of: (i) the expected increase in sales of the Company’s individual specialty health products due to the release of new products; (ii) the anticipated elimination of the rule limiting the duration of short term medical to 90 days, as directed by President Trump’s executive order; (iii) the elimination of the individual mandate effective January 1, 2019; and (iv) the growth in our other lines of business.”
About The IHC Group
Independence Holding Company (NYSE:IHC) is a holding company that is principally engaged in underwriting, administering and/or distributing group and individual specialty benefit products, including disability, supplemental health, pet, and group life insurance through its subsidiaries since 1980. The IHC Group owns three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company), and IHC Specialty Benefits, Inc. (IHC SB), a technology-driven full-service marketing and distribution company that focuses on small employer and individual consumer products through general agents, telebrokerage, advisor centers, private label arrangements, and through the following brands: www.HealtheDeals.com; Health eDeals Advisors; Aspira A Mas; www.PetPartners.com; and www.PetPlace.com. IHC creates value for insurance producers, carriers and consumers (both individuals and small businesses) through a suite of proprietary tools and products, all of which are underwritten by IHC’s carriers or placed with highly rated insurance companies.
Source: Independence Holding Company