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Safeco raises its dividend

Post by Marcelene Edwards on May 2, 2007 at 1:16 pm |
May 2, 2007 1:16 pm

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.

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