Assurant Board of Directors Declares Quarterly Dividend of $.15 per Common Share

Board also approves an additional $600 million share repurchase authorization

Jan 25, 2010, 07:30 ET from Assurant, Inc.

NEW YORK, Jan. 25 /PRNewswire-FirstCall/ -- Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announces that its board of directors has declared a quarterly dividend of $.15 per share of common stock. The dividend will be payable on March 8, 2010 to stockholders of record as of the close of business on Feb. 22, 2010.  

Future dividend declarations will be made at the discretion of the Assurant board of directors and will be based on the company's earnings, financial condition, cash requirements, future prospects and other factors.

In a separate action, the board also authorized an additional $600 million for the repurchase of Assurant shares.  This brings the Company's total repurchase authorization to $770 million for use in the open market and/or for private transactions.  The timing and amount of repurchases will depend on market conditions and other factors.

Assurant is a premier provider of specialized insurance products and related services in North America and select worldwide markets.  Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $25 billion in assets and $8 billion in annual revenue.

SOURCE Assurant, Inc.