Friday, February 16, 2001
What's the Buzz?
Ohio Casualty gets mixed reviews
Ohio Casualty Corp.'s decision not to shell out $7.2 million for its coming dividend has caused mix reviews among investors.
The Fairfield-based property and casualty insurer decided not to pay a first-quarter dividend, opting instead to retain the dividend to help improve the company's financial position. Ohio Casualty posted a loss of $79.2 million for 2000.
Some shareholders who rely on the dividend for income and investment purposes have expressed displeasure with the decision.
Other Ohio Casualty investors and those who follow the company on Wall Street endorsed the move.
Management said Ohio Casualty's board will continue to review the company's dividend policy on a quarterly basis.
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