American Physicians Capital (ACAP) Receives Approval for Extraordinary Dividend from Regulator
More News related to ACAP
- APCapital (ACAP) Tops Q3 EPS by 6c; Reaffirms FY09 Outlook; Raises Dividend
- American Physicians Capital, Inc. Reports Third Quarter 2009 Results and Increases Cash Dividend
- Trading Radar for 10/29: Exxon (XOM), Motorola (MOT), Waste Management (WM) Report
- American Physicians Capital, Inc. Announces Dates to Release Third Quarter 2009 Results and Host Teleconference
- American Physicians (ACAP) Raises Buyback Plan By $10M
American Physicians Capital, Inc. (NASDAQ: ACAP) has received approval from the Michigan Office of Financial and Insurance Regulation to pay an extraordinary dividend totaling $30 million from its primary subsidiary, American Physicians Assurance Corporation to its holding company, APCapital.
The extraordinary dividend to APCapital will increase the holding company's cash balance to approximately $38.5 million, thus allowing the Company to have adequate cash resources available to continue executing its prudent capital management strategy. APCapital maintains an active but flexible capital management plan, which includes share repurchases, a quarterly cash dividend to its shareholders and reducing its trust preferred debt.
Depending on market conditions, the Company may conduct additional discretionary repurchases in the open market or in privately negotiated transactions during its normal trading windows. [SM]
Related Categories
Corporate NewsDividends
Stock Buybacks
Stocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
