Cincinnati-based Midland Co. increased its annual dividend 8.6 percent to 19 cents per share, from 17.5 cents per share.
It is the 17th consecutive year Midland, whose subsidiary American Modern Insurance Group is a leader in the manufactured housing insurance market, has upped its yearly dividend.
The next quarterly dividend, payable April 3, 2003, will be 4.75 cents per share, up from the previous level of 4.375 cents per share. As of Dec. 31, 2002, Midland had 17.6 million common shares outstanding.
The company plans to report annual and fourth-quarter Feb. 6.
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