Baldwin & Lyons Declares Dividends

November 7, 2003

Indianapolis-based insurer Baldwin & Lyons Inc. announced that at its quarterly meeting, the board of directors declared the regular quarterly dividend of 10 cents per share on the company's class A and class B common stock.

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In addition, the board declared an extra dividend of 25 cents per share on both classes of stock. Both dividends will be payable Dec. 2, 2003 to shareholders of record on Nov. 18, 2003.