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Monday May 9

Safeco Increases Dividend to Shareholders by 14%

Safeco's board of directors has announced an increase to the company's quarterly dividend. The board declared a regular quarterly dividend of $0.25 per share, payable on July 25, 2005 to shareholders of record as of July 8, 2005.

"With our continued strong earnings performance, we are increasing our quarterly dividend by 14 percent to $0.25 per share," said Mike McGavick, Safeco chairman and chief executive officer. "This increase, added to last August's 19 percent dividend increase, reflects the company's profitability and the confidence we have about our future."

Safeco, in business since 1923, is a Fortune 500 property and casualty insurance company based in Seattle.

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