Old Republic International (NYSE:ORI) has decided to keep its dividend steady for now. The company declared a common stock distribution of $0.18 per share for its Q3; this is to be paid on September 16 to shareholders of record as of September 6. That amount matches both of the insurer's previous distributions, the most recent of which was paid in June. Prior to that, Old Republic dispensed $0.1775 per share.
In the press release announcing the news, the company did not hesitate to mention that 2013 marks the 72nd consecutive year it has paid a distribution. It also pointed out that the payout has increased for 32 years in a row.
The just-declared dividend annualizes to $0.72 per share. That yields 4.9% at Old Republic International's current stock price of $14.62.
Fool contributor Eric Volkman has no position in Old Republic International. Nor does The Motley Fool. 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.