Daytona Beach, Fla.-based Insurance broker Brown & Brown Inc. said it will increase its quarterly cash dividend by 1 cent to 7 cents per share.
Payment of the new rate will be made on Nov. 21 to shareholders of record as of Nov. 7.
Yesterday, the broker reported third-quarter net income rose $6 million to $46 million, or 33 cents a share, up 4 cents over the same period last year. Revenues rose 12 percent, or $25 million, to $237 million compared with the same period last year.
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