United Fire Board Declares Regular Dividend On Common Stock
CEDAR RAPIDS, Iowa, Aug. 20, 2010 (GLOBE NEWSWIRE) -- The board of directors of United Fire & Casualty Company (Nasdaq:UFCS) declared a regular quarterly dividend on the common stock of 15 cents per share at its meeting today, Friday, August 20. This dividend will be payable on September 15, 2010, to stockholders of record as of September 1, 2010. Our company has paid dividends every quarter since March 1968. About United Fire & Casualty Company Founded in 1946, United Fire & Casualty Company is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. Our company's net premiums written totaled $248.2 million through the first six months of 2010, and our market capitalization was $521.7 million at June 30, 2010.
We are represented by professional independent insurance agents throughout the country, predominantly in the Midwest, West and South. Our complete line of products includes commercial insurance (approximately 91 percent of property and casualty premiums written), surety bonds, personal insurance and life insurance.
United Fire is rated A (Excellent) by A.M. Best Company. In addition, United Fire was named a "Top 10 Ease of Doing Business Performer" for 2009 in Deep Customer Connections Inc.'s (DCC) seventh annual Ease of Doing Business (EDB) survey. As part of the survey, more than 8,700 independent agents and brokers assessed the performance of over 250 property and casualty carriers. They rated the importance of 11 EDB factors, ranging from underwriting responsiveness and handling claims promptly to acting with the agency's needs in mind. DCC specializes in helping property and casualty carriers achieve profitable growth by making it easy for their agents to work with them. DCC's EDB Index® is an industry benchmark of carriers' EDB performance. Our subsidiary, United Life Insurance Company, has been named to the Ward's 50 Life & Health Insurance Companies for five consecutive years (2006-2010). For more information about United Fire, visit www.unitedfiregroup.com .The United Fire & Casualty Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7089 Disclosure of forward-looking statements This release may contain forward-looking statements about our operations, anticipated performance and other similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934 for forward-looking statements. The forward-looking statements are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and/or projected. Such forward-looking statements are based on current expectations, estimates, forecasts and projections about our company, the industry in which we operate, and beliefs and assumptions made by management. Words such as "expect(s)," "anticipate(s)," "intend(s)," "plan(s)," "believe(s)," "continue(s)," "seek(s)," "estimate(s)," "goal(s)," "target(s)," "forecast(s)," "project(s)," "predict(s)," "should," "could," "may," "will continue," "might," "hope," "can" and other words and terms of similar meaning or expression in connection with a discussion of future operating, financial performance or financial condition, are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in Part I Item 1A "Risk Factors" of our annual report on Form 10-K for the year ended December, 31, 2009, filed with the SEC on March 1, 2010 and in our report on Form 10-Q for the quarter ended June 30, 2010, filed with the SEC on July 30, 2010. The risks identified on Form 10-K are representative of the risks, uncertainties, and assumptions that could cause actual outcomes and results to differ materially from what is expressed in forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release or as of the date they are made.
CONTACT: United Fire & Casualty Company Randy A. Ramlo, President/CEO Dianne M. Lyons, Vice President/CFO 319-399-5700
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