Old Republic International Corp.'s board has declared a special cash dividend of $1.00 per common share.
The dividend is payable Jan. 31, 2018, to all common shareholders of record as of Jan. 10, 2018.
The board has concluded that the company has enough capital resources to pay out a special cash dividend after evaluating recent business developments, including notable transactions and events affecting financial statements for the fourth quarter and year ending Dec. 31.
The company will report net realized investment gains of about $150 million in the fourth quarter, stemming from managed sales of investment portfolio securities. Net realized gains in 2017 will total about $210 million. The company will also record additional pretax income statement charges of about $45 million in the fourth quarter.
Separately, the North Carolina Department of Insurance has issued a final order terminating its supervision of Old Republic International's mortgage guaranty insurance subsidiaries chartered in that state.