Two insurance-related firms located in the Southeastern U.S. declared quarterly dividends this week.
Alfa Corporation, Montgomery, Ala.-based firm engaging in insurance and financial activities through subsidiaries announced that its Board of Directors declared a regular quarterly cash dividend of $0.08 per share, an increase of 6.7 percent over the previous quarterly rate. Meanwhile, Florida’s Brown & Brown Inc., which provides a broad range of insurance and reinsurance products and services, as well as risk management, employee benefit administration, and managed health care services throughout the U. S., announced its Board declared a regular quarterly cash dividend of $.0575 per share.
For Alpha, the increase represents the twenty-ninth consecutive year in which cash dividends have risen. The quarterly cash dividend is payable May 30, 2003, to stockholders of record at the close of business on May 15.
Brown & Brown’s dividend is payable on May 22, to shareholders of record on May 8.