Safeco Corp., a home and car insurer based in Seattle, raised its quarterly dividend by a third to 40 cents a share, Bloomberg News reported.
The increase applies to shareholders of record as of July 6, and will be payable July 23, Safeco said in a statement. The action brings the annual dividend rate to $1.60 a share.
Safeco last raised its dividend to 30 cents on May 3, 2006. It has more than doubled its annual dividend rate in the past four years, the company said.