American Financial Group, Inc. Increases Annual Dividend by 14%; Thirteenth Consecutive Year of Dividend Increases
August 21 2018 - 5:00PM
Business Wire
American Financial Group, Inc. (NYSE: AFG) announced that its
Board of Directors has approved an increase in the Company’s
regular annual dividend from $1.40 to $1.60 per share of common
stock. The increased dividend, when declared, will be paid on a
quarterly basis of $0.40 per share of common stock beginning in
October 2018. The new dividend rate represents a 14% increase over
the annual rate paid thus far in 2018. The Company has increased
its dividend in each of the last thirteen years.
Carl H. Lindner III and S. Craig Lindner, AFG’s Co-Chief
Executive Officers, issued this joint statement: “We are pleased to
announce this increase in AFG’s annual dividend paid to
shareholders, which reflects our confidence in the Company’s
financial condition, liquidity, and prospects for long-term growth.
Returning excess capital to shareholders through dividends is a key
component of AFG’s capital management strategy. AFG’s five-year
compounded annual growth rate in regular dividends is approximately
12.5%.”
About American Financial Group,
Inc.
American Financial Group is an insurance holding company, based
in Cincinnati, Ohio with assets over $60 billion. Through the
operations of Great American Insurance Group, AFG is engaged
primarily in property and casualty insurance, focusing on
specialized commercial products for businesses, and in the sale of
fixed, fixed-indexed and variable-indexed annuities in the retail,
broker dealer, financial institutions and registered investment
advisor markets. Great American Insurance Group’s roots go back to
1872 with the founding of its flagship company, Great American
Insurance Company.
Forward Looking
Statements
This press release contains certain statements that may be
deemed to be "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements in this press
release not dealing with historical results are forward-looking and
are based on estimates, assumptions and projections. Examples of
such forward-looking statements include statements relating to: the
Company's expectations concerning market and other conditions and
their effect on future premiums, revenues, earnings, investment
activities and the amount and timing of share repurchases;
recoverability of asset values; expected losses and the adequacy of
reserves for asbestos, environmental pollution and mass tort
claims; rate changes; and improved loss experience.
Actual results and/or financial condition could differ
materially from those contained in or implied by such
forward-looking statements for a variety of reasons including, but
not limited to: changes in financial, political and economic
conditions, including changes in interest and inflation rates,
currency fluctuations and extended economic recessions or
expansions in the U.S. and/or abroad; performance of securities
markets, including FIA option costs; new legislation or declines in
credit quality or credit ratings that could have a material impact
on the valuation of securities in AFG’s investment portfolio; the
availability of capital; regulatory actions (including changes in
statutory accounting rules); changes in the legal environment
affecting AFG or its customers; tax law and accounting changes;
levels of natural catastrophes and severe weather, terrorist
activities (including any nuclear, biological, chemical or
radiological events), incidents of war or losses resulting from
civil unrest and other major losses; development of insurance loss
reserves and establishment of other reserves, particularly with
respect to amounts associated with asbestos and environmental
claims; availability of reinsurance and ability of reinsurers to
pay their obligations; trends in persistency and mortality;
competitive pressures; the ability to obtain adequate rates and
policy terms; changes in AFG’s credit ratings or the financial
strength ratings assigned by major ratings agencies to AFG’s
operating subsidiaries; the impact of the conditions in the
international financial markets and the global economy (including
those associated with the United Kingdom's expected withdrawal from
the European Union, or "Brexit") relating to AFG’s international
operations; and other factors identified in AFG’s filings with the
Securities and Exchange Commission.
The forward-looking statements herein are made only as of the
date of this press release. The Company assumes no obligation to
publicly update any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20180821005697/en/
American Financial Group, Inc.Diane P. Weidner, IRC,
513-369-5713Asst. Vice President - Investor RelationsorWebsites:www.AFGinc.comwww.GreatAmericanInsuranceGroup.com
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