The board of directors of
Infinity Property and Casualty Corp.
) approved a 20% increase in its quarterly cash dividend. The
property and casualty insurer will now pay a quarterly dividend
of 36 cents per share, up from 30 cents per share distributed in
2013. The first increased quarterly dividend will be paid on Mar
28, 2014 to shareholders of record as on Mar 14.
The increased quarterly dividend is equivalent to an annual
dividend of $1.44 per share. Based on yesterday's closing share
price of $14.01, the increased dividend implies a yield of 1.99%
for Infinity Property and Casualty.
The dividend hike is primarily supported by the company's sturdy
financial position with strong retained earnings and cash
balance. Moreover, improving underwriting results are driving
bottom-line growth at the company which in turn cushions the
Based on around 16.2 million shares outstanding, Infinity
Property and Casualty will have to dish out roughly $4.2 million
as quarterly dividend.
Infinity Property and Casualty has been consistently distributing
profit among its shareholders for the last several years. The
latest dividend increase marks the tenth consecutive year of
dividend hike. Infinity Property and Casualty has increased its
quarterly dividend at a 10-year CAGR of 20.7%.
Among other life insurers, the board of directors of
FBL Financial Group Inc.
) recently approved a whopping 133% increase in its quarterly
cash dividend. The multi line insurer will now pay a dividend of
35 cents per share, up from 15 cents distributed earlier.
The board of another property and casualty insurer,
AmTrust Financial Services, Inc.
) raised its regular quarterly dividend by 43% on Feb 18, 2014.
The company will now pay a quarterly dividend of 20 cents per
share, up from 14 cents a share paid previously.
The board of directors at
XL Group plc
) recently sanctioned a 14.3% hike in its quarterly dividend. The
company will now pay a dividend of 16 cents per share, up from 14
cents paid on Dec 31, 2013.
AMTRUST FIN SVC (AFSI): Free Stock Analysis
FBL FINL GRP-A (FFG): Free Stock Analysis
INFINITY PPTY (IPCC): Free Stock Analysis
XL GROUP PLC (XL): Free Stock Analysis Report
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