RLI Corp. (RLI) will hike its quarterly dividend by 4.3 percent to $0.24 per share in the second quarter of 2020. Last year the company paid a $1.00 per share special dividend in the fourth quarter of 2019 and also raised its quarterly dividend by 4.5 percent to $0.23 per share.

The increased dividend of 24 cents is payable on June 19, 2020, to shareholders of record as of May 29, 2020. At a stock price of $74 the new annualized dividend rate of 96 cents per share yields 1.3%. RLI Corp has now increased dividends for 45 consecutive years.

RLI Corp. is a specialty insurer serving diverse, niche property, casualty and surety markets. RLI's products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. RLI’s history dates to the early 1960s, when Founder Gerald D. Stephens, recognized the expense of replacing contact lenses, and founded RLI — Replacement Lens, Inc. — a contact lens insurance agency. In 1965, he acquired the holding company that would later become RLI Corp.