Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

CNA Financial Swings To Profit

|Includes: CNA Financial Corporation (CNA)

Originally published at

CNA Financial Corporation (NYSE:CNA) announced its fourth quarter and annual financial results for the 2013 fiscal year, posting a net profit after sustaining a loss in the year-ago quarter. The company reported net income of $221M and $0.82 per share, swinging from a net loss of $9M and $0.03 per share last year. For the full fiscal year, CNA's net profit was $937M and $3.47 per share, weighed down in part by a $123M charge related to reinsurance accounting from 2010. Chairman and CEO Thomas Motamed commented that the company ended the year with a strong quarter, making progress towards its goals of margin improvement and a closer focus on customer business segments. CNA Financial's board of directors declared a $1.00 per share special dividend and a $0.25 per share quarterly dividend, payable to on March 12 to shareholders of record on February 24.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.