American Financial Group pays special dividend
American Financial Group, Inc. (AFG) will pay a special dividend $14.00 per share in 2021 because of the closing of the sale of its Annuity Businesses. Last year AFG paid a $2.00 per share special dividend and raised its quarterly dividend by 11.1 percent to 50 cents per share. American Financial Group has sold its Annuity businesses, consisting of Great American Life Insurance Company (GALIC) and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company, as well as a broker-dealer affiliate, Great American Advisors, Inc., and insurance distributor, AAG Insurance Agency, Inc. to Massachusetts Mutual Life Insurance Company (MassMutual). Total after-tax cash proceeds from the sale are approximately $3.5 billion. In connection with the closing of this transaction, the Company has declared a special, one-time cash dividend of $14.00 per share of American Financial Group Common Stock. The dividend is payable on June 15, 2021 to ho