Old Republic International Corp. (ORI), a property insurance and title insurance company, on Monday announced that its Board of Directors has authorized a new $750 million share repurchase program.
The new program will begin once the company completes the remaining $162 million under its $1.10 billion buyback plan announced on March 1, 2024.
Under the program, Old Republic may repurchase shares from time to time at its discretion through open market purchases, privately negotiated transactions, or other methods.
The program has no expiration date, and does not obligate the company to repurchase a minimum number of shares
Since December 31, 2020, Old Republic has returned over $4.2 billion to shareholders through regular and special dividends and share repurchases.
Its current annualized regular cash dividend of $1.16 per share, a 9.4% increase from 2024, marks the 44th consecutive year of dividend increases and the 84th year of uninterrupted dividend payments.
In the pre-market trading, Old Republic International 1.45% higher at $38.60 on the New York Stock Exchange.
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