Peoria, Ill.-based RLI Corp.’s board of directors has declared a 2nd quarter cash dividend of $0.19 per share, reflecting a two cent, or 12 percent increase over the prior quarter’s dividend.
The dividend, which is payable on July 14, 2006, to shareholders of record as of June 30, 2006, will take RLI’s cumulative return to shareholders to more than $122 million through 120 consecutive dividends. With this payment, RLI will have paid and increased dividends in each of the last 31 years, according to the company’s press release.
The company’s dividend yield would be 1.5 percent, based on the $0.76 indicated annual dividend and yesterday’s closing stock price of $50.05.
Over the last five years, the company’s quarterly dividend has grown by an average of 18.9 percent per year, and 13 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, the company said.
RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving “niche” or underserved markets. RLI operates in all 50 states from 23 office locations.
For additional information, go to http://www.rlicorp.com/ .
Source: RLI Corp.
Topics Illinois
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