ALLIED GROUP HOLDS ANNUAL MEETING
ALLIED GROUP HOLDS ANNUAL MEETING DES MOINES, Iowa, May 27 /PRNewswire/ -- Allied Group, Inc.
(NASDAQ: ALGR) announced that its board of directors met this morning and approved a regular $0.16 quarterly cash dividend payable June 30, 1992, to holders of record on June 19, 1992. At the current rate, the annualized dividend for 1992 will be $0.64 per share.
The board meeting followed Allied Group, Inc.'s annual meeting of stockholders. Stockholders elected three directors to three-year terms: James W. Callison, Michael E. Dougherty, and John P. Taylor. Stockholders also approved an outside director stock purchase plan and amendments to the dividend reinvestment and stock purchase plan and employee stock purchase plan. John E. Evans, chairman, announced that James D. Kirkpatrick was elected president of the property-casualty subsidiaries of Allied Group, Inc. as well as Allied Mutual Insurance Company. Kirkpatrick has previously served as executive vice president of the insurance companies. Allied Group, Inc. is a regional property-casualty insurer specializing in personal lines. The company uses independent agencies, exclusive agencies, and direct response marketing to offer products in central and western states. Over the last five years, it has had a 15 percent compound growth rate for earnings per share from continuing operations and increased its dividend every year. -0- 5/27/92 /CONTACT: Jim Shaffer of Allied Group, 515-280-4326/ (ALGR) CO: ALLIED Group, Inc. ST: Iowa IN: INS SU:
PS-OS -- NY065 -- 4385 05/27/92 15:56 EDT
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|Date:||May 27, 1992|
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