Brown & Brown boosts dividend by 6 percent

Brown & Brown, Inc. (NYSE:BRO), the Florida–based parent of Syracuse–based Brown & Brown Empire State, on Thursday announced that its board of directors has increased its quarterly dividend by 6.25 percent.

The insurance agency has declared a regular quarterly cash dividend of 8.5 cents per share, up from the 8 cents it paid last quarter. The new dividend is payable on Nov. 20 to shareholders of record on Nov. 8. This is the 26th straight annual dividend increase for Brown & Brown, the company said.

Brown & Brown, through its subsidiaries, offers a range of insurance products and related services. The firm makes a lot of acquisitions of small insurance agencies as part of its growth strategy.

Brown & Brown Empire State is headquartered at 500 Plum St. in Syracuse’s Franklin Square area. It also has offices in Vestal, Rome, and Clifton Park, according to the firm’s website.

Contact Rombel at arombel@cnybj.com