RLI Corp (NYSE:RLI), VSE Corp (NASDAQ:VSEC), Pennichuck Corp (NASDAQ:PNNW), Kaydon Corp (NYSE:KDN) and Canadian Natural Resources Ltd. (NYSE:CNQ) declare dividends.
The Board of Directors of RLI Corp (RLI), declared a quarterly common stock dividend of $0.30 a share payable 5/26/11 to shareholders of record at the close of business on 5/16/11.
The Board of Directors of VSE Corp (VSEC) declared a cash dividend of $0.07 a share on the company's common stock payable on 8/10/11 to Stockholders of record on 7/27/11.
The Board of Directors of Pennichuck Corp (PNNW) declared a regular cash dividend of $0.185 a common share. The dividend will be payable on 6/1/11 to common stockholders of record at the close of business on 5/16/11.
The Board of Directors of Kaydon Corp (KDN) declared a regular cash dividend of $0.19 per common share. The dividend will be payable on 7/5/11 to common stockholders of record at the close of business on 6/14/11.
The Board of Directors of Canadian Natural Resources Ltd. (CNQ) declared a regular cash dividend of C$0.09 per common share. The dividend will be payable on 7/1/11 to common stockholders of record at the close of business on 6/17/11.
Showing posts with label RLI Corp. Show all posts
Showing posts with label RLI Corp. Show all posts
Friday, May 6, 2011
Thursday, January 27, 2011
RLI (NYSE:RLI) Has Another Stellar Quarterly Result
RLI Corp. (NYSE:RLI) continues on its long run of solid quarterly results, and the business model of the company churns out revenue and profit on its pay strategy.
FBR says, "Few underwriting companies have been able to produce the stellar results that RLI has been able to generate over the years and 4Q10 was certainly no exception, as operating EPS of $1.66 came in significantly higher than the $0.98/share consensus estimate. The strong bottom-line performance should come as little surprise, as RLI pays its underwriters based on underwriting experience over a number of years, essentially until reserves mature. This formula has led to 15 years in a row of underwriting profit.
"We are raising our 2011 operating EPS estimate to $4.30 from $4.10 to account for accretion to top-line growth from the acquisition of CBIC, which is expected to close in 1Q11. We are also introducing our 2012 forecast of $4.35. However, we are decreasing our price target to $53 from $55 to account for the drop in forecasted book value."
FBR Capital reiterates a "Market Perform" rating on RLI Corp. (RLI), which closed Wednesday at $54.29, gaining $1.25, or 2.36 percent.
FBR says, "Few underwriting companies have been able to produce the stellar results that RLI has been able to generate over the years and 4Q10 was certainly no exception, as operating EPS of $1.66 came in significantly higher than the $0.98/share consensus estimate. The strong bottom-line performance should come as little surprise, as RLI pays its underwriters based on underwriting experience over a number of years, essentially until reserves mature. This formula has led to 15 years in a row of underwriting profit.
"We are raising our 2011 operating EPS estimate to $4.30 from $4.10 to account for accretion to top-line growth from the acquisition of CBIC, which is expected to close in 1Q11. We are also introducing our 2012 forecast of $4.35. However, we are decreasing our price target to $53 from $55 to account for the drop in forecasted book value."
FBR Capital reiterates a "Market Perform" rating on RLI Corp. (RLI), which closed Wednesday at $54.29, gaining $1.25, or 2.36 percent.
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