RLI Corp pays special dividend

RLI Corp. (RLI) will pay a $2.00 per share special dividend in 2021. Earlier this year RLI already raised its quarterly dividend by 4.2 percent to 25 cents per share. The insurer has now raised its dividend 46 consecutive years.

Both the regular $0.25 per share quarterly RLI dividend and the special dividend are payable on December 20, 2021, to shareholders of record as of November 30, 2021. RLI stock currently yields 0.9%.

“We are pleased to be able to share the rewards of our strong performance and return excess capital to shareholders through a $2.00 per share special dividend,” said RLI Chairman & CEO Jonathan E. Michael. “Our ability to return $135 million to shareholders in 2021, despite the impact of catastrophe losses on our business, is a testament to RLI’s financial strength and sustainability. Including today’s announced dividends, RLI has returned more than $1.1 billion to shareholders over the last ten years. We remain confident in our ability to continue to grow our business, serve our policyholders well and deliver long-term value to shareholders.”

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.