The common stock dividend for 20th Century Industries has returned to levels not seen since the 1994 Northridge earthquake, the company has announced.
20th Century, a Woodland Hills-based insurance holding company, has announced a 60% increase in the common stock dividend for the 1998 second quarter, increasing the dividend to 16 cents per common share from 10 cents. It's the second dividend increase in the past six months and returns the dividend to pre-earthquake levels.
20th Century was able to hike the dividend on net income for 1997 of $110.9 million, a 50% increase from the $74.1 million reported in 1996.
In April, the company reported first-quarter earnings of $27.9 million, or 34 cents per diluted share, a $900,000 increase from the year-ago quarter.