Peoria, Ill.-based RLI Corp. has declared a first quarter cash dividend of 9 cents per share for shareholders of record as of March 31, 2003, payable April 15, 2003.
This will be the company’s 107th consecutive paid dividend, bringing the cumulative return to RLI shareholders to more than $75 million. Mergent’s Dividend Achievers ranked RLI 175th among 11,000 U.S. public companies for 10- year average dividend growth rate.
In its latest published earnings release, RLI announced fourth quarter net earnings of $11.2 million, or 54 cents per diluted share), a 43 percent improvement over the $7.8 million, or 39 cents per share, result from the same period last year.
For the year, net earnings were $35.9 million, or $1.75 per share, a 16 percent increase over the $31 million, and $1.55 per share, recorded in 2001. Both the total dollar and per-share amounts for both quarterly and year-end earnings set company records.
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