HCI Group Declares Dividends on Preferred Shares

company logo

TAMPA, Fla., March 17, 2014 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) has declared cash dividends of 5.833 cents per share on its Series A Cumulative Redeemable Preferred Stock (OTCQB:HCIIP) for the months ending March 31, 2014, April 30, 2014 and May 31, 2014.

Preferred Dividend Payout Schedule

  • The March 2014 dividend is payable April 28, 2014 to shareholders of record at the close of business on April 1, 2014
  • The April 2014 dividend is payable May 27, 2014 to shareholders of record at the close of business on May 1, 2014
  • The May 2014 dividend is payable June 27, 2014 to shareholders of record at the close of business on June 2, 2014

The company previously announced that beginning April 1, 2014 Series A Preferred shareholders will no longer have the right to convert their shares into HCI Group, Inc. common shares. Series A Preferred shareholders wishing to convert their shares into common shares before the cancellation date should contact their investment advisors. The company voluntarily delisted the Series A Preferred Shares from the NASDAQ Capital Market on February 27, 2014.

About HCI Group, Inc.

HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners' insurance, reinsurance, real estate and information technology services. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.

The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the S&P SmallCap 600 Index. Its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol "HCJ." For more information about HCI Group, visit www.hcigroup.com.

Forward-Looking Statements

This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements, including statements about future dividend payments, are not guarantees of future financial results and conditions and are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.

CONTACT: Company Contact: Kevin Mitchell, Vice President of Investor Relations HCI Group, Inc. Tel (813) 405-3603 kmitchell@hcigroup.com Investor Relations Contact: Matt Glover or Michael Koehler Liolios Group, Inc. Tel (949) 574-3860 hci@liolios.com

Source:HCI Group, Inc.