Cincinnati Financial hikes dividend by 8.7%

On January 27, 2023, Cincinnati Financial (CINF) announced a dividend hike of 8.7% to $0.75 quarterly per share. This marks 63 consecutive years of dividend growth if the dividend will not be cut in later in 2023 by CINF. Last yer the insurance company announced a dividend hike of 9.5%.

The next CINF dividend is payable April 14, 2023, to shareholders of record as of March 17, 2023. The next ex-dividend date will be March 16, 2023 and the dividend yield for CINF is 2.85% at a stock price of $105.

Steven J. Johnston, chairman and chief executive officer, commented, "We keep a long-term view when managing our business and creating value for shareholders of Cincinnati Financial. Increasing the dividend signals the board's confidence in our ability to maintain the profitable growth of our insurance business while also continuing to return capital to shareholders.

"Cincinnati Financial shareholders have consistently benefited from increased dividends in each of the past 62 years, and this board action lays the foundation for continuing that record for a 63rd year."

Cincinnati Financial Corporation offers business, home and auto insurance 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 CINF's other subsidiaries, including life insurance, fixed annuities and surplus lines property and casualty insurance. The company segments are commercial lines insurance, personal lines insurance, excess and surplus lines insurance, and life insurance and investments.