RICHFIELD, Ohio, March 1, 2011 (GLOBE NEWSWIRE) -- National Interstate Corporation (Nasdaq:NATL) announced that on February 26, 2011, its Board of Directors approved a $0.09 per share dividend. The first quarterly cash dividend for 2011 will be payable on March 18, 2011 to shareholders of record of the Company's common stock as of the close of business on March 9, 2011.
The $0.09 per share dividend represents a 12.5% increase over quarterly dividend payments made in 2010. Since its Initial Public Offering in 2005, the Company has changed its policy from an annual to a quarterly dividend and has increased its quarterly dividend in each of the last five years. The Board of Directors intends to continue to review the Company's dividend policy at future first quarter meetings, with the anticipation of considering annual dividend increases in accordance with its dividend policy.
About National Interstate CorporationNational Interstate Corporation (Nasdaq:NATL), founded in 1989, is the holding company for a specialty property-casualty insurance group which differentiates itself by offering products and services designed to meet the unique needs of niche markets. Products include insurance for passenger, truck and moving and storage transportation companies, alternative risk transfer, or captive programs for commercial risks, specialty personal lines products focused primarily on recreational vehicle owners and small commercial vehicle accounts, and transportation and general commercial insurance in Hawaii and Alaska. The Company's insurance subsidiaries, including the two primary insurers, National Interstate Insurance Company and Vanliner Insurance Company, are rated "A" (Excellent) by A.M. Best Company. Headquartered in Richfield, Ohio, National Interstate is an independently operated subsidiary of Great American Insurance Company, a property-casualty subsidiary of American Financial Group, Inc. (NYSE:AFG) (Nasdaq:AFG).
CONTACT: Tanya Inama National Interstate Corporation 877-837-0339 firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV