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RLI Lifts Quarterly Payout, Sets Special Dividend and $250 Million Stock Buyback; Shares Rise
RLI (RLI) raised its quarterly cash dividend by $0.02 to $0.18 a share, declared a $2 special dividend and authorized a new stock buyback program of up to $250 million.Both dividends are payable June 12 to holders of record May 29, the company said Thursday in a statement.RLI shares rose 4.2% in midday trading.Price: $49.78, Change: $+2.01, Percent Change: +4.21%
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