News Details

CHICAGO--(BUSINESS WIRE)-- Unitrin, Inc. (NYSE:UTR) announced today that its board of directors has declared a quarterly dividend of $0.20 per share on its common stock, payable on June 1, 2009 to shareholders of record as of May 15, 2009. The quarterly dividend had previously been $0.47 per share.

Don Southwell, Unitrin's Chief Executive Officer, made the following comments:

"The decision to decrease the dividend was a difficult one. Unitrin has returned over $3.7 billion to its shareholders in the form of dividends, share repurchases and a spinoff transaction since its formation in 1990 and has either maintained or increased its dividend every year until now. Though Unitrin's businesses remain well capitalized with good long-term earnings power, our board believes that it is prudent in the near term to conserve capital in these tumultuous economic times. While we can't make any guarantees about future dividends, the capital conserved by this action will put the board in a better position to consider an upward adjustment in our dividend rate as and when the economy and financial markets recover. Unitrin's board and senior management strongly believe that Unitrin has a bright future and we remain dedicated to providing superior long-term value for our shareholders. We expect that our dividend will continue to be a key component in providing shareholder value."

Unitrin is a financial services company focused on creating shareholder value by providing through its subsidiaries a diverse array of insurance and automobile finance products and services for individuals, families and small businesses. Among the brands in Unitrin'sProperty and Casualty Insurance businesses are Kemper(R)¹ and Unitrin Specialty, which sell personal and commercial insurance through networks of independent agents, and Unitrin Direct, which sells automobile and homeowners insurance directly to consumers and through employer-sponsored voluntary benefit programs. Unitrin'sLife and Health Insurance businesses bring a high level of personalized service to their customers. Additional information about Unitrin is available by visiting its website (www.unitrin.com).

This release contains information that includes or is based upon forward-looking statements within the meaning of the Federal securities laws. Forward-looking statements give expectations or forecasts of future events, and can be identified by the fact that they relate to future actions, performance or results rather than strictly to historical or current facts. Any or all forward-looking statements may turn out to be wrong, and, accordingly, readers are cautioned not to place undue reliance on such statements. Forward-looking statements involve a number of risks and uncertainties that are difficult to predict, and are not guarantees of future performance. Among the general factors that could cause actual results to differ materially from estimated results are those listed in the Company's reports filed by the Company with the Securities and Exchange Commission ("SEC"). No assurances can be given that the results contemplated in any forward-looking statements will be achieved at all or in any particular timetable, and the Company assumes no obligation to publicly correct or update any forward-looking statements as a result of any subsequent developments. However, readers are advised to consult any further disclosures the Company makes on related subjects in its SEC filings.

¹Unitrin uses the registered trademark "Kemper" under license, for personal lines insurance only, from Lumbermens Mutual Casualty Company, which is not affiliated with Unitrin.

    Source: Unitrin, Inc.