RLI Corp hikes dividend by 4.2%

RLI Corp. (RLI) will raise its quarterly dividend by 4.2 percent to 25 cents per share in 2021. This follows a 4.3 percent dividend hike last year, when RLI also paid a special dividend of $1.00 per share. The insurer has now raised its dividend 46 consecutive years.

The next dividend is payable on June 18, 2021, to shareholders of record as of May 28, 2021. At a stock price of $113 the regular annualized dividend rate of 100 cents per share yields 0.9%. RLI Corp has increased dividends for 46 consecutive years and pays an estimated $45 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.