Geico Corp., an insurance holding company, increased its quarterly dividend rate to 12 cents a share, from 10 cents, starting March 31 to holders of record March 10. Directors of Geico also authorized management to buy up to 1.5 million shares or share equivalents in the open market.
Other dividend announcements included: Government Employees Life Insurance raised its payout to 25 cents a share from 20 cents, payable March 31, record date March 10; Citizens Bank & Trust Co. of Maryland announced a 5 percent stock dividend as well as a regular quarterly cash payout of 70 cents a share. The stock dividend, the 17th since 1960 for a total of 208 percent, will be paid on or before April 16 to owners of record March 27. The cash payout will be sent March 31 to owners of record March 16.
Regular dividends with payment and record dates: Virginia Electric & Power Co., 35 cents, March 29, March 2; International Bank of Washington, 10 cents, March 31, March 2; First American Bank of Virginia, 40 cents, March 31, March 16; James River Corp., 12 cents, April 30, April 15; Allied Capital Corp., 18 cents, March 27, March 13; National Capital Bank, 60 cents, April 2, March 16; First Virginia Banks, 13 3/4 cents, April 20, March 31; Avemco Corp., 12 1/2 cents, April 24, March 31; Reynolds Metals Co., 60 cents, April 1, March 2.