RLI Corp. (NYSE:RLI) Declares $0.18 Quarterly Dividend

RLI Corp. (NYSE:RLI) declared a quarterly dividend on Thursday, August 13th. Stockholders of record on Monday, August 31st will be given a dividend of 0.18 per share by the insurance provider on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st.

RLI has increased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 51 consecutive years. RLI has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect RLI to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 26.0%.

RLI Stock Up 1.7%

RLI opened at $64.00 on Friday. The company has a market capitalization of $5.87 billion, a PE ratio of 13.45 and a beta of 0.38. The firm has a 50-day simple moving average of $59.19 and a two-hundred day simple moving average of $57.75. RLI has a 52 week low of $47.26 and a 52 week high of $69.19.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. RLI had a return on equity of 17.61% and a net margin of 22.22%.The business had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. During the same quarter in the previous year, the company posted $0.82 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that RLI will post 2.88 earnings per share for the current year.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.