B&B Pays 7 Cent Dividend
NU Online News Service, Jan. 22, 11:37 a.m. EST?Insurance broker Brown & Brown Inc. said it will pay a regular quarterly dividend of 7 cents a share on Feb. 18 to shareholders of record as of Feb. 4.[@@]
Last week, the firm reported a 71 percent increase in net income for the year ending Dec. 31, 2003. Net income increased $27 million, going from $83 million, or $1.22 a share, in 2002 to $110 million, or $1.60 a share. Revenues rose 21 percent, or $95.3 million, from $455.7 million to $551 million.
For the fourth quarter, net income increased 21 percent, or $4.4 million, from $21.4 million, or 31 cents a share, to $25.8 million, or 37 cents a share. Revenues rose $15.8 million, from $119 million to $134.9 million.
At this time last year, Brown & Brown announced a quarterly dividend payment of 5.75 cents a share.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.