Cincinnati Financial raises dividend for 56th consecutive year
The quarterly dividend will be raised to $0.48 per share, marking 56 years of consecutive dividend increases.
Steven J. Johnston, president and chief executive officer, commented, "Cincinnati Financial shareholders have consistently benefited from increased dividends in each of the past 55 years, and this board action lays the foundation for a 56th year.
"The strong performance of our insurance operations in 2015, coupled with the successes achieved by our independent agents and focused associates, bolstered the board's confidence to reward shareholders in both the near and long term. The company's strong capital continues to support our dividend as well as the profitable growth of our insurance business, helping to increase shareholder value over time."
The estimated dividend yield for Cincinnati Financial is 3.3% based on Friday's closing price of $57.63.
Source: Cincinnati Financial