Cincinnati Financial raises dividend for 60th consecutive year
CINF will raise its quarterly dividend by seven percent to $0.60 per share in the first quarter of 2020, marking 60 straight years of higher dividend payments.
The new dividend is payable April 15, 2020, to shareholders of record as of March 18, 2020. A new annualized dividend rate of $2.40 per share yields 2.3 percent at a stock price of $104.95 for the insurer.
Steven J. Johnston, president and chief executive officer, commented: "Over the past 59 years, Cincinnati Financial shareholders have benefited from increasing dividends, and this action sets the stage for a 60th consecutive year.
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"The company's strong capital continues to support our dividend as well as the profitable growth of our insurance business, as we seek to increase shareholder value over time. That capital, combined with the depth of our relationships with outstanding independent agents and capable, hard-working associates, bolsters the board's confidence that the company can reward shareholders in both the near and long term."
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.