RLI Corp declares 3.8% dividend hike in 2023 | 48 years of dividend growth

rli 2023 dividend hike

P&C insurance company RLI Corp (symbol RLI) will hike its dividend by 3.8% to $0.27 quarterly per share in 2023. This marks the 48th consecutive year of increased dividends by RLI.

RLI Corp. announced on May 4, 2023 that its Board of Directors has declared a second quarter regular cash dividend of $0.27 per share, a $0.01 increase over the prior quarter. The dividend is payable on June 20, 2023 to shareholders of record as of May 31, 2023.

RLI has increased dividends in each of the last 48 years. The company’s dividend yield would be 0.77% based on the $1.08 indicated annual dividend and yesterday’s closing stock price of $139.48. Just recently another US insurer, Donegal Group, also hiked its dividend, marking 21 consecutive years of dividend growth.

RLI Corp. is a specialty insurer serving niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide. RLI’s products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. All of RLI’s subsidiaries are rated A+ “Superior” by AM Best Company. RLI has paid and increased regular dividends for 48 consecutive years and delivered underwriting profits for 27 consecutive years. 

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