United Fire & Casualty (NASDAQ:UFCS) is sticking to its existing dividend policy for now. The company has declared its latest quarterly common stock distribution, which is to be $0.18 per share paid on Sept. 16 to shareholders of record as of Sept. 3. That amount matches the company's previous distribution, which was handed out in June. Before that, United Fire handed out $0.15 per share.

The company has paid dividends since 1972. Since the beginning of 2003, its disbursement has climbed steadily from $0.0938 to the present level.

The just-declared dividend annualizes to $0.72 per share. That yields 2.2% at United Fire's most recent closing stock price of $32.45.

Fool contributor Eric Volkman has no position in United Fire & Casualty. The Motley Fool recommends United Fire & Casualty. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.