RLI Corp. (NYSE: RLI) has announced an increase in its regular cash dividend for the second quarter of 2024. The new dividend stands at $0.29 per share, reflecting a $0.02 increase from the previous quarter. This marks the 49th consecutive year in which RLI has raised its dividends, emphasizing the company's commitment to delivering value to its shareholders.
Based on the indicated annual dividend of $1.16 and the closing stock price of $143.25, RLI's dividend yield would be 0.81%. This increase in dividends comes on the back of RLI's impressive track record of delivering underwriting profits for 28 consecutive years, showcasing the company's sustained financial performance.
RLI Corp. is a specialty insurer serving niche property, casualty, and surety markets, providing deep underwriting expertise and superior service to commercial and personal lines customers nationwide. The company's insurance subsidiaries, including RLI Insurance Company, Mt. Hawley Insurance Company, and Contractors Bonding and Insurance Company, all hold a stellar A+ "Superior" rating by AM Best Company.
These developments underscore RLI's solid financial standing and its ability to consistently reward its shareholders. Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $142.78. Check out the company's full 8-K submission here.
