Home Melange The Hanover Insurance Group, Inc. Reveals Quarterly Dividend of $0.70 Per Common Share

The Hanover Insurance Group, Inc. Reveals Quarterly Dividend of $0.70 Per Common Share

by PrittlePrattleNews
The Hanover Insurance Group, Inc. (NYSE: THG) announced today its board of directors has declared a quarterly dividend of $0.70 per share on the issued and outstanding common stock of the company, payable June 25, 2021, to shareholders of record at the close of business on June 11, 2021.

Forward-Looking Statements

Statements regarding quarterly or future dividends payable, whether regular or special, to the company’s shareholders, which may be subject to future increases, decreases, or elimination, as determined by The Hanover’s board of directors, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The company cautions investors that any such forward-looking statements are not guarantees of future performance, including but not limited to, growth, earnings improvement, returns, future dividend payments, or the amount of such payments. Investors are directed to consider the risks and uncertainties in the company’s business that may cause actual results to differ and/or affect the board’s decision to declare dividends in the future, including those risks which are discussed in readily available documents, such as the company’s annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other documents filed by The Hanover with the Securities and Exchange Commission and which are also available on hanover.com under “Investors.”

About The Hanover

The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items.

The Hanover Insurance Group, Inc. is a Massachusetts-based insurance firm. It was the initial name of a property-liability insurance business founded in 1852. It remained a publicly listed corporation until the early 1990s when it was renamed Allmerica Property & Casualty Companies.

It spun out Allmerica Financial Corporation in 1996 as a property and casualty insurance and financial services holding company, which later bought out the original company and expanded to become one of the United States’ 500 biggest publicly listed firms. Allmerica Financial Corporation was renamed “The Hanover Insurance Group, Inc.” in 2005.

History

In 1852, the Hanover Insurance Group was founded in Manhattan’s Hanover Square. Every year since 1853, it has paid a cash dividend to its stockholders.

Hanover’s common stock price increased by nearly 23 times between 1971 and 1983, despite the fact that it remained a minor firm for the following 125 years. It divided its shares three-for-two at the end of that time period, in 1981. The stock was publicly traded on the Over-the-Counter (OTC) market, which is now known as the NASDAQ.

The company’s fast expansion continued into the mid-1980s when it split two-for-one in 1984 and nearly doubled in price by 1985, selling at a high price/earnings ratio of 61. The corporation was debt-free at the time, with a book value of nearly US$330 million. However, the company’s earnings had plummeted to around a third of what they had been in the early 1980s by that time.
Even when its PE ratio went back down to a cheap five times earnings, the business divided its shares two-for-one again in 1987 and was on its way to another double in price. These profits had risen to nearly US$100 million, more than double the company’s previous high point in 1981. By 1987, the book value had risen to US$550 million.

Disclaimer: The following Press Release comes to you under a network of a strategic syndication partnership with PR Newswire. Prittle Prattle News takes no editorial responsibility for the same.

rt

You may also like

Our Company

Prittle Prattle News also known as PP News, is an internationally most reliable business online news portal – prittleprattlenews is among trusted, respected, and fastest-growing online news portals. 

@2021 – All Right Reserved. Designed and Developed by Prittle Prattle