Brown & Brown hikes dividend by 12.2%
On October 18, 2022, Insurance broker Brown & Brown, Inc. (BRO) announced that it will raise its quarterly dividend by 12.2 percent to 11.5 cents per share. This comes on the back of a 10.8 percent hike to 10.25 cents per share in 2021. Dividend Aristocrat Brown & Brown has now raised its dividend 29 consecutive years.
The next BRO dividend is payable on November 16, 2022, to shareholders of record on November 2, 2022. The dividend represents a 12.2% increase from the previous regular quarterly cash dividend of $0.1025 per share and is the twenty-ninth consecutive annual dividend increase for the Company.
Brown & Brown, Inc. is an insurance brokerage firm, providing risk management solutions to individuals and businesses. The company markets and sells insurance products and services, in the property, casualty and employee benefits areas. BRO operates through four segments: Retail, National Programs, Wholesale Brokerage and Services. The Retail segment provides a range of insurance products and services to commercial, public, and quasi-public entities. The National Programs segment provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries. The Wholesale Brokerage segment, markets and sells excess and surplus commercial and personal lines insurance through independent agents and brokers. The Services segment provides insurance-related services, including third-party claims administration and medical utilization management services.
