Key Developments: ProAssurance Corp (PRA)

PRA on New York Consolidated

44.57USD
10 Jul 2014
Price Change (% chg)

$-0.19 (-0.42%)
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$44.76
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Latest Key Developments (Source: Significant Developments)

ProAssurance Corp declares regular dividend and adds to share repurchase authorization
Wednesday, 28 May 2014 04:02pm EDT 

ProAssurance Corp:Declares cash dividend of $0.30 per common share, payable on July 11 to shareholders who own stock as of June 27.Board also authorized additional $100 mln to be used for share repurchase or debt retirement.  Full Article

ProAssurance Corp executes option to expand revolving line of credit facility - Form 8-K
Tuesday, 1 Apr 2014 09:28am EDT 

ProAssurance Corp:Says it executed its accordion option to expand its revolving line of credit facility by $50 mln to a total of $200 mln with the addition of two lenders, The Northern Trust Company and Key Bank, N.A., to its facility.Each newly added lender has committed $25 mln to the credit facility.Revolving credit will be used for general corporate purposes, including, but not limited to, use as short-term working capital, funding for share repurchases as authorized by Board, and for support of other activities it enter into in the normal course of business including mergers and acquisitions.  Full Article

ProAssurance Corp declares quarterly dividend
Wednesday, 5 Mar 2014 04:25pm EST 

ProAssurance Corp:Declares a cash dividend of $0.30 per common share, payable on April 10, 2014 to shareholders who own our stock as of March 28, 2014.  Full Article

ProAssurance Corp completes acquisition of Eastern Insurance Holdings, Inc
Thursday, 2 Jan 2014 09:00am EST 

ProAssurance Corp:Says that its acquisition of Eastern Insurance Holdings, Inc. (Eastern) was completed effective Jan. 1, 2014.  Full Article

ProAssurance Corp announces regular quarterly cash dividend and authorizes share repurchase
Wednesday, 4 Dec 2013 04:30pm EST 

ProAssurance Corp:Increases the regular quarterly cash dividend to $0.30 per share.Says dividend will be paid on Jan. 9, 2014 to shareholders of record as of Dec. 27.Says board also authorized an additional $100 million to be used for share repurchase or debt retirement.Says share purchase authorization is effective immediately.  Full Article

ProAssurance Corp Announces Pricing Of $250 Million Of 5.30% Senior Notes Due 2023
Tuesday, 19 Nov 2013 08:00am EST 

ProAssurance Corp announced that it has priced a public offering of $250 million of its 5.30% senior unsecured notes due November 15, 2023. ProAssurance expects to use the net proceeds for general corporate purposes, repayment of debt and other capital management activities. The offering is expected to close on November 21, 2013. Goldman, Sachs & Co., Wells Fargo Securities, LLC and U.S. Bancorp Investments, Inc. served as the Joint Book-Running Managers for the offering.  Full Article

ProAssurance Corp Acquires Eastern Insurance Holdings, Inc
Tuesday, 24 Sep 2013 08:15am EDT 

ProAssurance Corporation and Eastern Insurance Holdings, Inc announced that Eastern Insurance Holdings (Eastern) will merge with a newly formed subsidiary of ProAssurance Corporation (ProAssurance) in an all-cash transaction that values Eastern at $24.50 per share. As a result of the merger, Eastern will become a wholly-owned subsidiary of ProAssurance. The transaction, with an aggregate value of approximately $205 million, is expected to close by January 1, 2014.  Full Article

ProAssurance Corp Declares Quarterly Dividend
Wednesday, 11 Sep 2013 04:01pm EDT 

ProAssurance Corp announced that it has declared a cash dividend of $0.25 per common share, payable on November 10, 2013 to shareholders who own Company's stock as of September 27, 2013.  Full Article

ProAssurance Corp Declares Quarterly Dividend
Wednesday, 22 May 2013 04:01pm EDT 

ProAssurance Corp announced that Board of Directors has declared a cash dividend of $0.25 per common share, payable on July 12, 2013 to shareholders who own our stock as of June 27, 2013.  Full Article

Faruqi & Faruqi, LLP Launches Investigation Against ProAssurance Corp For Potential Breaches Of Fiduciary Duties By Board Of Directors
Friday, 19 Apr 2013 08:30pm EDT 

Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, is investigating the Board of Directors of ProAssurance Corporation for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval of the Company's 2014 Equity Incentive Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on April 5, 2013, the Board of Directors recommends that ProAssurance's shareholders vote to approve the ProAssurance Corporation 2014 Equity Incentive Plan, which would authorize the issuance of up to 4,000,000 shares of Common Stock. The issuance of the additional shares could have a substantial dilutive effect on the shares of ProAssurance common stock.  Full Article

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