ATLANTA, Dec. 4, 2012 (GLOBE NEWSWIRE) -- Atlantic American Corporation (Nasdaq:AAME) today announced that its board of directors has declared a special cash dividend of $0.05 per share that will be payable on or about December 27, 2012, to shareholders of record as of December 14, 2012. This special dividend is in addition to and does not impact any future regular dividends.
"This special dividend reflects the continued success of our Company as well as our sound and highly liquid balance sheet, while preserving the financial and operational flexibility to grow our business. It further demonstrates our commitment to our shareholders and to enhancing shareholder value, particularly given the uncertainty in Washington and the future tax rates which may be applicable to any similar payments. The special dividend will allow Atlantic American to return approximately $1 million to shareholders," said Hilton H. Howell, Jr., chairman, president and chief executive officer.
Atlantic American is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, and property and casualty insurance industries. Its principal subsidiaries consist of American Southern Insurance Company, American Safety Insurance Company, and Bankers Fidelity Life Insurance Company.
Note regarding Private Securities Litigation Reform Act: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that Atlantic American Corporation files with the Securities and Exchange Commission.