Dividend Growth Stock Overview: Brown & Brown, Inc.

Brown & Brown, Inc. provides a wide variety of insurance products in 44 states
across the United States, and in London and parts of the Caribbean.
Photo courtesy Alan Cleaver/flickr.com.

About Brown & Brown, Inc.

Brown & Brown, Inc. is a diversified insurance agency and wholesale broker with operations in 41 states plus offices in London, England; Hamilton, Bermuda; and George Town, Cayman Islands.  The company operates more than 230 offices, with the largest number in Florida, California, and New York.  Brown & Brown does not generally assume underwriting risks; rather the company sells insurance products and related services.  There is one exception to this: the company underwrites flood insurance policies that are backed by FEMA or a reinsurance carrier through its Wright National Flood Insurance Company subsidiary.

Brown & Brown has four business segments.  The Retail Segment markets and sells insurance products, including property, casualty, life, accident, health and dental insurance, to individual, commercial and public entities.  The National Programs Segment sells liability insurance tailored to specialized groups of professionals, such as doctors, dentists and lawyers.  It also provides commercial package insurance for automotive service shops, like oil & lube shops, and parts retailers and wholesalers.  The Wholesale Brokerage Segment markets and sells excess commercial and personal lines of insurance, including to Brown & Brown retail offices.  Finally, the Services Segment provides insurance related services, such as third party claims administration, claims adjusting, litigation, and Social Security and Medicare benefits advocacy services.

 

The company is a member of the S&P Mid Cap 400 index and S&P’s High Yield Dividend Aristocrats index, and trades under the ticker symbol BRO.

Brown & Brown’s Dividend and Stock Split History

Brown & Brown, Inc. has increased dividends since 1994.  The company announces dividend increases in the 4th quarter of the calendar year, with the announcement and the ex-dividend date in October.

Brown & Brown has compounded its payout at an average rate of 9.1% over the last 5 and 10 years.

Brown & Brown first split its stock – a 3-for-2 split – in March 1998.  The company subsequently split its stock in August 2000, November 2001, and November 2005.  Each of these were 2-for-1 splits.  A single share of Brown & Brown stock owned at the beginning of 2008 would have split into 12 shares over this period.  Brown & Brown has not split its stock since then.

Brown & Brown’s Direct Purchase and Dividend Reinvestment Plans

Brown & Brown does not have a direct purchase or dividend reinvestment plan. The company recommends that investors interested in setting up a dividend reinvestment plan for the stock do so through a broker of their choice. Most brokers will allow you to reinvest dividends without any fee. Ask your broker for more information on how to set this up if you are interested.

Helpful Links

Brown & Brown’s Investor Relations Website

Current quote and financial summary for Brown & Brown, Inc. (finviz.com)

 

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