RLI Corp. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
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Item 8.01 Other Events.
On November 7, 2024, RLI Corp. (“RLI”) announced that its Board of Directors approved the following: (i) a special cash dividend on its common stock of $4.00 per share, (ii) a regular quarterly dividend on its common stock of $0.29 per share, and (iii) a two-for-one stock split of its common stock.
Both dividends are payable on December 20, 2024, to shareholders of record as of November 29, 2024. The two-for-one stock split is for shareholders of record as of December 31, 2024, and will be effective and shares distributed after the close of business on January 15, 2025, contingent upon the filing of an Amendment to the Company’s Amended and Restated Certificate of Incorporation subdividing the Company’s issued shares (the “Amendment”). The Amendment will also effect a proportionate increase in the number of shares of authorized common stock in connection with the stock split. Shares will begin trading post-split on January 16, 2025. Both the regular and special dividends will be paid on the pre-split shares.
Furnished as Exhibit 99.1 and incorporated herein by reference is a copy of the press release issued by RLI announcing the dividends and stock split.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
| Description |
99.1 | ||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RLI CORP. | ||
Date: November 7, 2024 | By: | /s/ Jeffrey D. Fick |
Jeffrey D. Fick | ||
Chief Legal Officer & Corporate Secretary | ||