RLI Corp. through its board of directors has declared a fourth-quarter cash dividend of $0.17 per share, reflecting a one cent, or 6 percent, increase over the prior quarter’s dividend. The dividend, which is payable on Jan. 13, 2006, to shareholders of record as of Dec. 30, 2005, will take RLI’s cumulative return to shareholders to more than $113 million through 118 consecutive dividends. With this dividend, RLI will have paid and increased dividends in each of the last 31 years.
The company’s dividend yield would be 1.2 percent, based on the $0.68 indicated annual dividend and Wednesday’s closing stock price of $54.75.
Over the last five years, the company’s quarterly dividend has grown by an average of 17.8 percent per year, and 12.6 percent per year over the last decade. Mergent’s Dividend Achievers ranks RLI 171st among 11,000 U.S. public companies for 10-year average dividend growth rate.
RLI, a specialty insurance company based in Peoria, Ill., offers property and casualty coverages and surety bonds serving “niche” or underserved markets. RLI operates in all 50 states from 24 office locations.
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