Assurant (AIZ) will increase its quarterly dividend by 6.0 percent to $0.53 per share. The increased dividend will be payable on Dec. 12, 2016 to stockholders of record as of the close of business on Nov. 28, 2016. Assurant's board also authorized the repurchase of up to an additional $600 million of its common stock, bringing the total authorization to approximately $753 million.

"Assurant's dividend increase and additional repurchase authorization supports our intent to return $1.5 billion to shareholders by the end of 2017 as part of our enhanced capital deployment actions announced this year," said Alan Colberg, president and chief executive officer, Assurant. "Our strong cash flow generation also provides significant flexibility to pursue investments in housing and lifestyle to drive long-term profitable growth."

Since its initial public offering in 2004, the company has repurchased 66 percent of its common shares outstanding, or 93 million shares, for $4.4 billion, and raised its dividend every year.

Assurant, Inc. is a provider of risk management solutions in the housing and lifestyle markets, protecting where people live and the goods they buy. The company operates in North America, Latin America, Europe and Asia Pacific through three operating segments: Global Housing, Global Lifestyle and Global Preneed. Assurant, Inc. was incorporated as a Delaware corporation in 2004 and has paid a dividend every year since the company went public.