American Coastal Insurance Corporation Declares Special Cash Dividend of $0.50 Per Share

Rhea-AI Summary

American Coastal Insurance (ACIC) has announced a special cash dividend of $0.50 per share of common stock. The dividend will be paid on January 10, 2025, to shareholders who are on record as of January 2, 2025. This decision was approved by the company's Board of Directors.

Positive

• Special cash dividend of $0.50 per share indicates financial strength and shareholder value return
• Company has sufficient cash reserves to distribute dividends

Negative

• None.

News Market Reaction – ACIC

+7.84%

+7.84% Session move

In the trading session that priced this news, ACIC gained 7.84%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ST. PETERSBURG, Fla., Dec. 04, 2024 (GLOBE NEWSWIRE) -- American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) (“the Company”, “American Coastal” or “ACIC”), the insurance holding company of American Coastal Insurance Company (“AmCoastal”), announced today that its Board of Directors declared a special cash dividend of $0.50 per share of common stock outstanding, payable on January 10, 2025, to shareholders of record on January 2, 2025.

About American Coastal Insurance Corporation:
American Coastal Insurance Corporation (amcoastal.com) is the holding company of the insurance carrier, American Coastal Insurance Company, which was founded in 2007 for the purpose of insuring Condominium and Homeowner Association properties and apartments in the state of Florida. American Coastal Insurance Company has an exclusive partnership for distribution of Condominium Association properties in the state of Florida with AmRisc Group (amriscgroup.com), one of the largest Managing General Agents in the country specializing in hurricane-exposed properties. American Coastal Insurance Company has earned a Financial Stability Rating® of A, Exceptional from Demotech and maintains an A- insurance financial strength rating with a Stable outlook by Kroll. ACIC maintains a “BB+” issuer rating with a Stable outlook by Kroll.

Contact Information:
Alexander Baty
Vice President, Finance & Investor Relations, American Coastal Insurance Corporation
investorrelations@amcoastal.com
(727) 425-8076

Karin Daly
Investor Relations, Vice President, The Equity Group
kdaly@equityny.com
(212) 836-9623

FAQ

What is the amount of ACIC's special cash dividend announced on December 4, 2024?

American Coastal Insurance (ACIC) announced a special cash dividend of $0.50 per share of common stock.

When is the payment date for ACIC's special dividend?

The special cash dividend will be paid on January 10, 2025.

What is the record date for ACIC's special dividend?

The record date for the special dividend is January 2, 2025.

Is ACIC's $0.50 dividend a regular or special dividend?

This is a special cash dividend, not a regular dividend payment.