B&B Pays 7 Cent Dividend

NU Online News Service, Jan. 22, 11:37 a.m. EST?Insurance broker Brown & Brown Inc. said it will pay a regular quarterly dividend of 7 cents a share on Feb. 18 to shareholders of record as of Feb. 4.[@@]

Last week, the firm reported a 71 percent increase in net income for the year ending Dec. 31, 2003. Net income increased $27 million, going from $83 million, or $1.22 a share, in 2002 to $110 million, or $1.60 a share. Revenues rose 21 percent, or $95.3 million, from $455.7 million to $551 million.

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