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Old Republic International Corporation Message Board

ori.investor 2 posts  |  Last Activity: Oct 24, 2014 5:25 PM Member since: Mar 25, 2011
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  • Reply to

    Conference Call forward guidance

    by steinej Oct 24, 2014 7:59 AM
    ori.investor ori.investor Oct 24, 2014 5:25 PM Flag

    My inference from that comment was that dividend increases are going to continue to be anemic for the foreseeable future. The discussion arose because an analyst asked what the outlook was for dividend increases. So if the payout ratio is going to fall to 30-35%, unless earnings move significantly higher, there's no way they are going to raise the dividend any faster than they have been recently.

    I am confident that the dividend is secure, but I'm tired of these token 1/4 of 1 cent dividend increases every year. That was OK as a symbolic statement back in the financial crisis, but that ended 5 years ago. It's time to show some significant growth. And it's not happening yet.

    They're talking about 10 year cycles - and the toxic division not running off until 2022. So in 2022 they might be able to free up some capital! I can't believe they raised all that money and didn't have a plan to shed that effing toxic division. I thought they'd shore it up to regulators' satisfaction and sell it. Hell no, we get to sit and watch 8 more years as it slowly dribbles off the books.

    The dividend is secure, so as a bond equivalent, ORI is a buy. But it's getting painful to see how there's nothing on the horizon to speed things up. I appreciated Al's plowhorse approach in the middle of the crisis, but I think he's earned his time out in the pasture.

  • ori.investor by ori.investor Sep 23, 2014 7:59 PM Flag

    I hope it means they are about to put the mortgage division issues to rest for regulators. I'd use the selloff to add.

    Sentiment: Buy

14.42+0.06(+0.42%)Dec 19 4:01 PMEST

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