DALLAS, Texas, August 8, 2017 – GAINSCO, INC. (the “Company”) (Pink Sheets: GANS) today announced that its board of directors approved a special cash dividend of $1.50 per share. The special dividend will be payable on August 30, 2017 to shareholders of record on August 18, 2017.
The Company believes that, at its current size, it has more than adequate capital to support its insurance and other operations, and that it is appropriate to return some capital to shareholders through a special cash dividend.
GAINSCO, INC. is a U.S. holding company specializing in automobile insurance (through its insurance brand, GAINSCO Auto Insurance®), automotive sales and service, auto racing and investments. GAINSCO was established in 1978 as a Texas corporation and is based in Dallas, Texas, with a regional insurance office in Miami, Florida. GAINSCO’s primary insurance company subsidiary is MGA Insurance Company, Inc.
Release Date: Tuesday, August 8, 2017 – FOR IMMEDIATE RELEASE
Company Contacts: Scott A. Marek, Asst. Vice President 972.629.4493
Email address: email@example.com