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Section 1: 8-K (8-K)

Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 23, 2018
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United Fire Group, Inc.
(Exact name of registrant as specified in its charter)
Iowa
 
001-34257
 
45-2302834
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)
118 Second Avenue SE, Cedar Rapids, Iowa
 
52401
(Address of principal executive offices)
 
(Zip Code)
Registrant's telephone number, including area code: (319) 399-5700
_________________________________________________________________
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 8.01. Other Events
At a meeting of the Board of Directors of United Fire Group, Inc. (the "Company" or "UFG") held on July 23, 2018, the directors approved a special cash dividend of $3.00 per share. The dividend is payable on August 20, 2018 to shareholders of record as of August 3, 2018. A copy of the Company’s related press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d)     Exhibits.
99.1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
United Fire Group, Inc.
 
 
(Registrant)
Dated:
July 24, 2018
/s/ Dawn M. Jaffray
 
 
Dawn M. Jaffray, Senior Vice President & Chief Financial Officer

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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit
Exhibit 99.1

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United Fire Group, Inc. Declares Special Cash Dividend of $3.00 per Share
CEDAR RAPIDS, IOWA, July 24, 2018 – Yesterday, the Board of Directors of United Fire Group, Inc. (Nasdaq: UFCS) ("UFG") approved a special cash dividend of $3.00 per share, which is expected to total approximately $75 million. This dividend will be payable August 20, 2018 to shareholders of record as of August 3, 2018.
“We are pleased to share the profits of the sale of United Life Insurance Company with our shareholders,” said UFG CEO Randy Ramlo. “This special cash dividend benefits our shareholders, while allowing UFG to continue building upon the success of our property and casualty operations, together with future strategic opportunities, share repurchases and capital initiatives.”
Including today’s announced special cash dividend, UFG has returned over $250 million to shareholders through regular quarterly and special dividends, and share repurchases since 2013. During this time period, the regular quarterly cash dividend has increased from $0.15 per share to the current amount of $0.31 per share, or an average increase of 13 percent per year. Earlier this year, UFG celebrated its 200th consecutive quarterly dividend. UFG has consistently paid quarterly dividends to its shareholders since 1968, demonstrating our continued financial strength.
About UFG
Founded in 1946 as United Fire & Casualty Company, UFG, through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance.
Through our subsidiaries, we are licensed as a property and casualty insurer in 46 states, plus the District of Columbia, and we are represented by approximately 1,100 independent agencies. A.M. Best Company assigns a rating of “A” (Excellent) for members of the United Fire & Casualty Group.
For more information about UFG Insurance, visit www.ufginsurance.com or contact:
Randy Patten, AVP of Finance and Investor Relations, 319-286-2537 or IR@unitedfiregroup.com.



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