UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 17, 2015
HERITAGE INSURANCE HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-36462 | 45-5338504 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
Heritage Insurance Holdings, Inc. 2600 McCormick Drive, Suite 300 Clearwater, Florida |
33759 | |||
(Address of principal executive offices) | (Zip Code) |
(727) 362-7202
(Registrants telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 8 Other Events
Item 8.01 | Other Events. |
On December 17, 2015, Heritage Insurance Holdings, Inc. (the Company) announced that its Board of Directors declared a quarterly cash dividend of $0.05 per share on the Companys common stock. The dividend will be paid on January 13, 2016 to stockholders of record on the close of business on December 31, 2015.
A copy of the press release announcing the dividend is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Section 9 Financial Statements and Exhibits
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits:
Exhibit |
Exhibit Description | |
99.1 | Press release issued December 17, 2015 announcing the dividend declaration. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HERITAGE INSURANCE HOLDINGS, INC. | ||||||
Dated: December 17, 2015 | By: | /s/ Stephen Rohde | ||||
Name: | Stephen Rohde | |||||
Title: | Chief Financial Officer |
Exhibit Index
Exhibit |
Exhibit Description | |
99.1 | Press release issued December 17, 2015 announcing the dividend declaration. |
Exhibit 99.1
Heritage Insurance Initiates Quarterly Cash Dividend
Quarterly dividend of $0.05 per share to be paid on January 13, 2016
Clearwater, Fla., Dec. 17, 2015 Heritage Insurance Holdings, Inc. (NYSE: HRTG), a property and casualty insurance holding company, today announced that its Board of Directors declared a quarterly cash dividend of $0.05 per share on the Companys common stock. The dividend will be paid on January 13, 2016 to stockholders of record on the close of business on December 31, 2015.
Bruce Lucas, Chairman of the Board of Directors and Chief Executive Officer noted: The initiation of a quarterly dividend demonstrates our confidence in the financial strength of our Company and the cash flow it generates. We believe our high levels of growth and cash flow from operations will allow us to continue to pursue opportunistic M&A while returning capital to stockholders. The announcement today reinforces our commitment to delivering value to stockholders while investing for future growth.
The declaration and payment of any future dividend will be subject to the discretion of the Board of Directors and will depend on a variety of factors, including the Companys financial condition and results of operations and contractual restrictions.
About Heritage
Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company headquartered in Clearwater, Florida. Its subsidiary, Heritage Property & Casualty Insurance Company, writes over $500 million of personal and commercial residential premium through a large network of experienced agents. Heritage is led by an experienced senior management team with an average of 28 years of insurance industry experience.
Forward Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. Without limiting the generality of the foregoing, words such as may, will, expect, believe, anticipate, intend, could, would, estimate, or continue or the other negative variations thereof or comparable terminology are intended to identify forward-looking statements. The risks and uncertainties that could cause our actual results to differ from those expressed or implied herein include, without limitation: the success of the Companys marketing initiatives, inflation and other changes in economic conditions (including changes in interest rates and financial markets); the impact of new federal and state regulations that affect the property and casualty insurance market; the costs of reinsurance and the collectability of reinsurance; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; dependence on investment income and the composition of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; insurance agents; claims experience; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes and hail); changes in loss trends; acts of war
and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission, including, but not limited to, the Companys Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission on March 18, 2015. The Company undertakes no obligations to update, change or revise any forward-looking statement, whether as a result of new information, additional or subsequent developments or otherwise.
Heritage Insurance Holdings, Inc.
Investor Contact:
Stephen Rohde, CFO
727-362-7204
srohde@heritagepci.com
Source: Heritage Insurance Holdings, Inc.
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