HRH Increases Dividend Payment
NU Online News Service, 3:15 p.m. EDT?Hilb Rogal & Hobbs Company said it would pay a quarterly dividend of 10.5 cents a share on June 30 to shareholders of record as of June 15.[@@]
The Richmond, Va.-based insurance broker said the payment represents a 13.5 percent increase in the dividend rate, up one cent from the last payment in March.
For the first quarter of 2004, HRH reported its net income increased $6.14 million, or 34 percent, going from $18.1 million, or 51 cents a share, to $24.2 million, or 67 cents a share. Revenues increased 11 percent, or $16.24 million, going from $142 million to $158.2 million (see NU Daily News, April 22, for full report).
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