NU Online News Service, July 24, 12:16 p.m. EDT
Brown & Brown, Inc. announced that it will pay a quarterly cash dividend of 7.5-cents per share on outstanding common stock on Aug. 19 to shareholders of record as of Aug. 12.
The 7.5-cent dividend remained the same from this year's first quarter.
This week, the Daytona Beach, Fla.-based insurance broker reported a second-quarter net income increase of less than 1 percent to $40.67 million over the same period last year, with earnings per share flat at 29 cents a share. Revenues increased by 2 percent, or $4.65 million, to $246 million.
For the first six months of the year, net income dropped 4 percent from the previous year, or $3.48 million, to $88.7 million. Earnings per share dropped 2-cents during the period to 63 cents. Revenues rose 2 percent, or $11.5 million to $510 million.
Brown & Brown executives cited the continued economic downturn for the company's strained financial growth.
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