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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

RLI Declares Regular & Special Dividends

November 10, 2021 GMT

PEORIA, Ill.--(BUSINESS WIRE)--Nov 10, 2021--

RLI Corp. (NYSE: RLI) – RLI Corp. announced today its Board of Directors has declared a special cash dividend of $2.00 per share of common stock, which is expected to total approximately $90 million, and a regular quarterly cash dividend of $0.25 per share. Both dividends are payable on December 20, 2021, to shareholders of record as of November 30, 2021.

“We are pleased to be able to share the rewards of our strong performance and return excess capital to shareholders through a $2.00 per share special dividend,” said RLI Chairman & CEO Jonathan E. Michael. “Our ability to return $135 million to shareholders in 2021, despite the impact of catastrophe losses on our business, is a testament to RLI’s financial strength and sustainability. Including today’s announced dividends, RLI has returned more than $1.1 billion to shareholders over the last ten years. We remain confident in our ability to continue to grow our business, serve our policyholders well and deliver long-term value to shareholders.”

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ABOUT RLI

RLI Corp. (NYSE: RLI) is a specialty insurer serving niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide. RLI’s products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. All of RLI’s subsidiaries are rated A+ “Superior” by AM Best Company. RLI has paid and increased regular dividends for 46 consecutive years and delivered underwriting profits for 25 consecutive years. To learn more about RLI, visit www.rlicorp.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211110006142/en/

CONTACT: Aaron Diefenthaler

Vice President, Chief Investment Officer & Treasurer

309-693-5846

Aaron.Diefenthaler@rlicorp.com

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY INSURANCE

SOURCE: RLI Corp.

Copyright Business Wire 2021.

PUB: 11/10/2021 04:10 PM/DISC: 11/10/2021 04:11 PM

http://www.businesswire.com/news/home/20211110006142/en