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20. Subsequent Event
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
20. Subsequent Event

The Company has evaluated events that occurred subsequent to December 31, 2014 through the date these consolidated financial statements were issued for matters that required disclosure or adjustment in these consolidated financial statements.

 

Dividends Declared and Paid

 

On February 6, 2015, the Company’s Board of Directors approved a dividend of $.05 per share, or $365,505, payable in cash on March 13, 2015 to stockholders of record as of February 27, 2015.

 

Commercial Auto Line of Business

 

The Company had previously decided effective October 1, 2014, that it will no longer accept applications for new commercial auto policies. The action was taken following a series of underwriting and pricing measures which were intended to improve the profitability of this line of business. The actions taken did not yield the hoped for results. In February 2015, the Company made the decision that it will no longer offer renewals on its existing commercial auto policies, beginning with those that expire on or after May 1, 2015.