Homeowners Choice Declares Dividends on Preferred Shares

Wed May 22, 2013 6:56pm EDT

* Reuters is not responsible for the content in this press release.

TAMPA, Fla., May 22, 2013 (GLOBE NEWSWIRE) -- Homeowners Choice, Inc., doing business as HCI Group, Inc. (NYSE:HCI), a Florida-based holding company, has declared cash dividends of 5.833 cents per share on its Series A Cumulative Redeemable Preferred Stock ("HCIIP") for the months ending June 30, July 31 and August 31, 2013.

Preferred Dividend Payout Schedule

  • The June 2013 dividend is payable July 29, 2013 to shareholders of record at the close of business on July 1, 2013
  • The July 2013 dividend is payable August 27, 2013 to shareholders of record at the close of business on August 1, 2013
  • The August 2013 dividend is payable September 27, 2013 to shareholders of record at the close of business on September 3, 2013

About HCI Group, Inc.

HCI Group, Inc. owns enterprises engaged in diverse business activities, including property and casualty insurance, information technology, real estate and reinsurance. 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 Russell 2000 Index; its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol "HCJ;" and its 7% Series A, cumulative redeemable preferred shares trade on the NASDAQ Capital Market under the ticker symbol "HCIIP." 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" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather 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:
         Jay Madhu, Vice President of Investor Relations
         HCI Group, Inc.
         Tel (813) 405-3660
         jmadhu@hcigroup.com
         
         Investor Relations Contact:
         Matt Glover or Michael Koehler
         Liolios Group, Inc.
         Tel (949) 574-3860
         hci@liolios.com
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