Cincinnati Financial raises dividend for 58th year
CINF will raise its quarterly dividend by six percent to $0.53 per share in the first quarter of 2018, marking 46 straight years of higher dividend payments.
The new dividend is payable April 16, 2018, to shareholders of record as of March 21, 2018 and the new dividend yield for the insurer is 2.8%.
Steven J. Johnston, president and chief executive officer, commented, "Over the past 57 years, Cincinnati Financial shareholders have benefited from increasing dividends, and this action lays the groundwork for a 58(th) year. Reflecting confidence in our long-term outlook, today the board also authorized an additional 15 million shares, expanding our current repurchase program. While dividends remain our primary means of returning capital to shareholders, this authorization gives us discretion to evaluate the many factors affecting periodic capital management decisions.
Last year the dividend was raised for the 57th consecutive year by CINF.
Cincinnati Financial Corporation offers business, home and auto insurance, our main business, through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of our other subsidiaries, including life and disability income insurance, fixed annuities and surplus lines property and casualty insurance.
