ProAssurance Corporation (PRA) will pay a $0.50 per share special dividend, together with the regular $0.31 per share quarterly dividend. Last year the insurer paid a $4.69 per share special dividend.

Both the quarterly and special dividend will be paid on January 9, 2019 to shareholders who own our stock as of December 21, 2018. The regular quarterly dividend of 31 cents yields 2.8% at a stock price of $43.73.

“The special dividend declared today affirms our ongoing commitment to manage our capital effectively and efficiently, while safeguarding the unquestioned strength of our balance sheet. We believe the evolving loss trends in the broader medical professional liability business may create strategic opportunities for growth, which could require us to maintain a higher level of capital. Further, given our concern about those evolving loss trends, we are being conservative in our view of the capital needed to support our operations,” said W. Stancil Starnes, our Chairman and Chief Executive Officer.

ProAssurance Corporation is an insurer specialized in healthcare professional liability, products liability for medical technology and life sciences, legal professional liability, and workers' compensation insurance.