As per its habit, Universal Insurance Holdings (NYSE:UVE) has decided to share recent good fortunes with its investors. The company declared a common stock dividend of $0.10 per share, to be handed out on October 1 to shareholders of record as of September 23. That distribution consists of the previously anticipated $0.08-per-share payout, plus an additional disbursement of $0.02. That bests the firm's previous two dividends totaling $0.08 apiece, the most recent of which was paid in June.

From time to time, the company adds to its payout following a good quarter. The last time it did so was in December 2012, when it added $0.12 to its base distribution of $0.08.

All told, the just-declared dividend annualizes to $0.40 per share. That yields 5.5% at Universal Insurance Holdings' most recent closing stock price of $7.32.