Alfa Insurance
Alfa is top dog in the Alabama insurance pack. The corporation is part of a mutual holding company structure whose foundation is the Alfa Mutual companies, which own 55% of the corporation. The structure allows Alfa Mutual Insurance and Alfa Mutual Fire policyholders to retain control of the company. It also allows the company to engage in non-insurance operations that include consumer lending, real estate investment and sales, and construction. Alfa provides auto insurance, life, homeowner, and other property & casualty insurance in Alabama, Georgia, and Mississippi. President and chairman Jerry Newby is also president of the Alabama Farmers Federation, which founded the company in 1946.
Alfa Corporation (Nasdaq/NM:ALFA - News) announced that its Board of Directors declared a regular quarterly cash dividend of $0.0875 per share, an increase of 9.4% over the previous quarterly rate. This represents the thirtieth consecutive year that cash dividends have increased. The quarterly cash dividend is payable June 1, 2004, to stockholders of record at the close of business on May 14, 2004.
Financial Highlights
| Fiscal Year End: | December |
| Revenue (2003): | 618.00 M |
| Revenue Growth (1 yr): | 5.20% |