Contact Information: Investor Contact: Kristine Walczak Dresner Corporate Services 312-780-7205 kwalczak@dresnerco.com Steven Carr Dresner Corporate Services 312-780-7211 scarr@dresnerco.com
Universal Insurance Holdings, Inc. Declares Nine Cent Cash Dividend
| Source: Universal Insurance Holdings, Inc.
FORT LAUDERDALE, FL--(Marketwire - October 5, 2007) - Universal Insurance Holdings, Inc.
("UIH") (AMEX : UVE ), a vertically integrated insurance holding company,
announced today that its board of directors declared a dividend of $0.09
per share on its common stock. The dividend is payable on April 8, 2008 to
shareholders of record as of March 10, 2008.
The board of directors' decision to increase the dividend by 13 percent
from eight cents to nine cents reflects the Company's positive results and
profits during the second quarter ended June 30, 2007, as detailed in its
most recently filed Form 10-QSB with the Securities and Exchange
Commission. Future cash dividend payments are necessarily subject to
business conditions, the Company's financial position, and requirements for
working capital and other corporate purposes. The Company's board of
directors intends to evaluate the possibility of paying future dividends on
a quarter-by-quarter basis.
About Universal Insurance Holdings, Inc.
The Company is a vertically integrated insurance holding company operating
solely in the state of Florida. Through its subsidiaries, the Company is
currently engaged in insurance underwriting, distribution and claims.
Universal Property & Casualty Insurance Company (UPCIC), which generates
revenue from the collection and investment of premiums, is one of the top
five leading writers of homeowners insurance in the state of Florida and
has aligned itself with well respected service providers in the industry.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. The words
"believe," "expect," "anticipate" and "project," and similar expressions
identify forward-looking statements, which speak only as of the date the
statement was made. Such statements may include, but not be limited to,
projections of revenues, income or loss, expenses, plans, and assumptions
relating to the foregoing. Forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted or
quantified. Future results could differ materially from those described in
forward-looking statements.