RLI Declares Regular & Special Dividends

Rhea-AI Summary

RLI Corp. (NYSE: RLI) announced a special cash dividend of $2.00 per share and a regular quarterly cash dividend of $0.27 per share, totaling approximately $91 million, payable on December 20, 2023. President & CEO Craig Kliethermes highlighted the company's ability to return value to shareholders despite unprecedented catastrophe activity and debt retirement.

PEORIA, Ill.--(BUSINESS WIRE)-- 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 $91 million, and a regular quarterly cash dividend of $0.27 per share. Both dividends are payable on December 20, 2023, to shareholders of record as of November 30, 2023.

“RLI’s ability to return $91 million to shareholders amid a year of unprecedented catastrophe activity and while retiring $150 million in senior debt is a testament to the strength of our business model,” said RLI Corp. President & CEO Craig Kliethermes. “Our underwriting consistency, diversified product portfolio and strong capital management have allowed us to help customers recover from unexpected events, while delivering positive results and value to our shareholders.”

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 48 consecutive years and delivered underwriting profits for 27 consecutive years. To learn more about RLI, visit www.rlicorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108363755/en/

Aaron Diefenthaler

Chief Investment Officer & Treasurer

309-693-5846

Aaron.Diefenthaler@rlicorp.com

 

Source: RLI Corp.

FAQ

What is the special cash dividend announced by RLI Corp. (NYSE: RLI)?

RLI Corp. (NYSE: RLI) announced a special cash dividend of $2.00 per share.

When are the dividends payable to shareholders of RLI Corp. (NYSE: RLI)?

Both dividends are payable on December 20, 2023.

Who is the President & CEO of RLI Corp. (NYSE: RLI) and what did they say about the dividends?

Craig Kliethermes highlighted the company's ability to return value to shareholders despite unprecedented catastrophe activity and debt retirement.