Mercury General Corporation Increases Dividend 16.2%
Mercury General Corporation (NYSE: MCY) announced that its Board of Directors, on January 28, 2005, declared a first quarter dividend of $0.43, an annual rate of $1.72 representing a 16.2% increase over the rate paid in 2004. The dividend will be paid on March 31, 2005 to shareholders of record on March 15, 2005.
Since dividends were instituted in the first quarter of 1986, Mercury General's dividend has increased at least once each year with the overall compound rate of increase over nineteen years averaging in excess of 20%.
As previously announced, the Company will host an investor conference call on February 7, 2005 to review the Company's results of operations for the fourth quarter and twelve-month period ended December 31, 2004. All interested investors will be able to access the conference call at (877) 807-1888 or the webcast at http://www.mercuryinsurance.com/. A replay of the call will be available beginning at 1:30 P.M. Pacific Time and running through February 14, 2005. The replay telephone numbers are (800) 642-1687 (USA) or (706) 645-9291 (International). The conference ID# is 3419001. The replay will also be available on our website shortly following the call.
Mercury General Corporation and its subsidiaries are a multiple line insurance organization offering predominantly personal automobile and homeowners insurance through a network of independent agents and brokers in many states. For more information, visit our website at http://www.mercuryinsurance.com/.
SOURCE: Mercury General Corporation
CONTACT: Theodore Stalick, VP/CFO of Mercury General Corporation,
Web site: http://www.mercuryinsurance.com/