Auto insurer Infinity Property & Casualty (NASDAQ:IPCC) announced yesterday its second-quarter dividend of $0.30, the same rate it paid in February when it raised the payout from $0.225 per share. Infinity has increased its dividend every year since 2004.
The board of directors said the quarterly payout is payable on June 28 to the holders of record at the close of business on June 14.
The regular dividend payment equates to a $1.20-per-share annual dividend yielding 2% based on the closing price of Infinity Property & Casualty's stock on May 7.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
3 Reasons to Hold Onto This Insurance Company's Stock
Infinity Property and Casualty has a reasonable valuation, a decent balance sheet, and a covered and growing dividend.
Sell in May -- and Buy Something Else
So long as reasonable values are available in companies that pay and increase their dividends, why sit on cash?
A Missed Opportunity With Infinity Property & Casualty
But you can use valuation as a great check on whether the market bets you're making are reasonable.