American Financial Group hikes dividend by 12%
American Financial Group, Inc. (AFG) will raise its quarterly dividend by 12 percent to 56 cents per share in 2021. Last year AFG raised its quarterly dividend by 11.1 percent to 50 cents per share. The insurance holding company also paid out several special dividends since.
The next AFG regular dividend of $0.56 per share has to be declared officially and is expected to be paid in October. The new regular annual dividend rate of $2.24 per share yields 1.7% at a stock price of $132.
S. Craig Lindner and Carl H. Lindner III, AFG’s Co-Chief Executive Officers, issued this statement: “Returning excess capital to shareholders in the form of dividends is an important and effective component of AFG’s capital management strategy. This increase in AFG’s annual dividend reflects our confidence in the Company’s financial condition, liquidity, and prospects for long-term growth.”
American Financial Group is an insurance holding company, based in Cincinnati, Ohio. Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses. Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. American Financial Group has paid an uninterrupted dividend to its shareholders every year since at least 1986.