Hanover Insurance declares dividend
Fresh off a strong quarter, Hanover Insurance Group of Worcester declared a quarterly stock dividend of 37 cents per share to stockholders of record as of the market close on Sept. 12.
In late July, the Hanover reported a bump in both revenue and net income for its second quarter. Driven by what is said were "strong price increases" for its personal and commercial lines, the company reported revenue of $1.27 billion, up from $1.24 billion for the same period a year ago.
Meanwhile, the company reported net income of $82.6 million, or $1.84 per diluted share, for the second quarter of 2014, compared to net income of $53.4 million, or $1.19 per diluted share, at the same time last year.
The dividend will be paid Sept. 26, the Hanover said in a statement. The Hanover paid the same dividend for each of the last three quarters. It’s the highest since it paid 75 cents per share in November 2009.
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