United Fire Group (UFCS) will raise its quarterly dividend by 10.7 percent to $0.31 per share in the second quarter of 2018. This follows a dividend hike from $0.25 to $0.28 quarterly last year by the insurer.

The next dividend will be payable June 15, 2018, to shareholders of record as of June 1, 2018. Based on the current stock price of $52.81 the new annual dividend yields 2.4%. UFCS has now raised its dividend for six consecutive years.

Founded in 1946 as United Fire & Casualty Company, United Fire Group, Inc., through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities.