RLI Corp pays special dividend

RLI Corp. (RLI) will pay a special dividend of $1.00 per share. Earlier this year the insurer already hiked its quarterly dividend by 4.3 percent to $0.24 per share in the second quarter of 2020. Last year the company also paid a $1.00 per share special dividend in the fourth quarter of 2019 and raised its quarterly dividend by 4.5 percent to $0.23 per share.

The special dividend is payable on December 18, 2020, to shareholders of record as of November 30, 2020. At a stock price of $100 the regular annualized dividend rate of 96 cents per share yields 1.0%. RLI Corp has increased dividends for 45 consecutive years and pays an estimated $43 million in dividends to shareholders annually.

RLI Corp. is a specialty insurer serving diverse, niche property, casualty and surety markets. RLI's products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. RLI’s history dates to the early 1960s, when Founder Gerald D. Stephens, recognized the expense of replacing contact lenses, and founded RLI — Replacement Lens, Inc. — a contact lens insurance agency. In 1965, he acquired the holding company that would later become RLI Corp.