RICHFIELD, Ohio -- National Interstate Corporation has reported preliminary results for 2009 that show sharply higher net income for the fourth quarter and full year.

The parent company of leading motorcoach industry insurer, National Interstate, said it expects to report net income per share in the range of 64 to 73 cents for the fourth quarter of last year and $2.34 to $2.43 per share for the full year.

Those numbers are a significant improvement over 2008 final results of 5 cents per share for the final quarter of the year and 55 cents per share for full-year net income.

The earnings gains for 2009 came despite lower four-quarter net-after-tax earnings from operations. National Interstate expects to report net after-tax earnings from operations of roughly 45 cents per share for the final quarter of last year, versus 66 cents per share during the last quarter of 08.

Full-year 09 earnings from operations are expected to be 15 percent higher than those of 2008.

National Interstates net earnings from operations include underwriting income and recurring investment income.

Fourth quarter 2009 gross premiums written of $65.1 million decreased 4.3 percent, while 2009 full-year gross premiums written totaled $344.9 million, or a decline of 9.3 percent compared to the same periods in 2008.

The decreases were partially attributable, the company said, to fewer insured vehicles for its commercial customers "due to the difficult economic conditions."

National Interstate said it has "maintained its disciplined underwriting practices throughout the prolonged competitive insurance cycle."

The company will release final numbers for 09 later this month.

Separately, National Interstate announced its board had approved a dividend increase. The first dividend at the new higher rate of 8 cents per share will be paid March 12, to shareholders of record March 1.

The 8-cents-per-share dividend represents a 14 percent increase over the quarterly dividend paid in 2009. Since National Interstate began paying dividends in 2005, its rate has doubled from 4 cents a share to 8 cents.