Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. declared a quarterly cash dividend of 5 cents per share payable on Aug. 23 to shareholders of record as of Aug. 9.
The firm yesterday reported second quarter net income rose $7.4 million, from $37 million or 27 cents a share in 2005, to $44.4 million or 32 cents a share this year. Revenues increased 13 percent, or $25 million, from $196 million to $221 million.
For the six months, net income increased 18 percent, or $14 million, from $80 million or 57 cents a share, to $94 million or 67 cents a share. Revenues increased 13 percent or $53.1 million, from $398 million to $451.1 million.
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