Donegal hikes dividend by 3%

On April 20, 2023, Donegal Group (DGICA) announced that it will raise its quarterly dividend by 3.0 percent to $0.17 per share of the company's Class A common stock. This follows a 3.1 percent dividend hike in 2022 by the insurance company and marks 21 consecutive years of dividend growth.

Donegal Group Inc. reported that its board of directors declared a regular quarterly cash dividend of $0.17 per share of the Company’s Class A common stock and $0.1525 per share of the Company’s Class B common stock. The dividends are payable on May 15, 2023 to stockholders of record as of the close of business on May 1, 2023.

These dividends represent percentage increases of 3.0% for the Company’s Class A common stock and 3.4% for the Company’s Class B common stock compared to the previous quarterly cash dividend rates.

Donegal Group Inc. is an insurance holding company whose insurance subsidiaries offer personal and commercial property and casualty lines of insurance in 21 Mid-Atlantic, Midwestern, New England and Southern states.