Everest Re Group, Ltd.’s RE board of directors has approved an 11% hike in its quarterly dividend in bid to return more profits to stockholders. The company will now make a quarterly payout of .55 per share compared with .40 per share paid on Aug 21, 2019. Shareholders of record as of Dec 4 will be rewarded with this dividend on or before Dec 24, 2019.Prior to this, the company raised quarterly dividend by 8% to .40 per share last November. Historically, it boasts a consistent increase in dividends with the metric witnessing a five-year CAGR (2013-2018) of 23.9%. Its current dividend yield is 2.1%, which compares favorably with the industry average of 0.4%.Everest Re has been increasing its payout each year and the recent dividend hike highlights its commitment toward a prudent capital management. This is a testament to Everest Re’s sustained operational performance over a period of time. In fact, the dividends paid to shareholders have increased 2.7x since third-quarter 2013.The company’s solid financial status provides enough support to engage in shareholder-friendly moves like dividend hikes and share buyback authorization. Since 2006, the company has successfully returned .4 billion to shareholders.Driven by a robust capital position and long-term operating performance, the property and casualty (P&C) insurer has been making consistent efforts to improve its long-term shareholder value and focus on sustained growth. Everest Re’s consistent share buyback is also driving the bottom line.Shares of this Zacks Rank #3 (Hold) P&C insurer have outperformed the industry year to date. The stock has gained 22.9% compared with the industry’s growth of 9.2%. We expect a robust product portfolio, strategic initiatives, better investment results and a solid capital position to drive the shares in the near term.Recently, the board members of Assurant, Inc. AIZ approved a 5% hike in its quarterly dividend. The company will now pay a quarterly dividend of 63 cents per share compared with 60 cents paid on Sep 16, 2019.Stocks That Warrant a LookSome better-ranked stocks from the same space are Donegal Group Incorporation DGICA and RLI Corporation RLI, both sporting a Zacks Rank # (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Donegal Group Incorporation provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. The company beat estimates in the trailing four quarters by 248.34%, on average.RLI Corporation underwrites property and casualty insurance in the United States and internationally. The company beat estimates in the trailing four quarters by 154.89%, on average.Just Released: Zacks’ 7 Best Stocks for TodayExperts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.These 7 were selected because of their superior potential for immediate breakout.See these time-sensitive tickers now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Assurant, Inc. (AIZ): Free Stock Analysis Report Donegal Group, Inc. (DGICA): Free Stock Analysis Report Everest Re Group, Ltd. (RE): Free Stock Analysis Report RLI Corp. (RLI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research