RLI Declares Regular & Special Dividends

Rhea-AI Summary

RLI Corp. (NYSE: RLI) announced a special cash dividend of $7.00 per share, totaling approximately $320 million, alongside a regular quarterly dividend of $0.26 per share. Both dividends are set for payment on December 20, 2022, to shareholders on record as of November 30, 2022. This special dividend follows the sale of RLI’s minority interest in Maui Jim, showcasing the company's financial strength and commitment to returning value to shareholders.

Positive

• Declared a special cash dividend of $7.00 per share, totaling approximately $320 million.
• Regular quarterly cash dividend of $0.26 per share.
• Return of excess capital to shareholders demonstrates financial strength.

Negative

• None.

PEORIA, Ill.--(BUSINESS WIRE)-- RLI Corp. (NYSE: RLI) – RLI Corp. announced today its Board of Directors has declared a special cash dividend of $7.00 per share of common stock, which is expected to total approximately $320 million, and a regular quarterly cash dividend of $0.26 per share. Both dividends are payable on December 20, 2022, to shareholders of record as of November 30, 2022.

“At the end of September, we completed the sale of RLI’s minority ownership interest in Maui Jim,” said RLI Corp. President & CEO Craig W. Kliethermes. “We have enjoyed a successful 26-year partnership with the company and are excited to share some of the excess capital generated from this transaction with shareholders through a $7.00 per share special dividend. The return of $320 million to shareholders through this special dividend reflects our financial strength and a consistent approach on capital management.”

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 47 consecutive years and delivered underwriting profits for 26 consecutive years. To learn more about RLI, visit www.rlicorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221110006134/en/

Aaron Diefenthaler

Vice President, Chief Investment Officer & Treasurer

309-693-5846

Aaron.Diefenthaler@rlicorp.com

Source: RLI Corp.

FAQ

What is the amount of the special cash dividend declared by RLI?

RLI has declared a special cash dividend of $7.00 per share.

When will RLI's dividends be paid?

Both the special and regular dividends will be payable on December 20, 2022.

What is the total amount of the special cash dividend by RLI?

The special cash dividend is expected to total approximately $320 million.

Who is eligible for RLI's dividend payments?

Shareholders of record as of November 30, 2022, are eligible for the dividend payments.

How many years has RLI been increasing its dividends?

RLI has paid and increased regular dividends for 47 consecutive years.