American Financial Group (AFG) hikes dividend for 19th consecutive year in 2024
American Financial Group, Inc. (AFG) has announced that its Board of Directors has approved an increase in the company’s regular annual dividend to $3.20 per share, up from $2.84.
This new dividend rate, which represents a 12.7% increase, will be distributed quarterly at $0.80 per share starting in October 2024. This marks the nineteenth consecutive year of dividend hikes for AFG, with a ten-year compound annual growth rate of 12.4% in its annual dividends.
Earlier this year, American Financial Group paid a special dividend of $2.50 per share. The dividend yield is 2.5% based on a share price of $128. Last year AFG also hiked the dividend by 12.7%.
Co-Chief Executive Officers Carl H. Lindner III and S. Craig Lindner commented, “Returning excess capital to shareholders through dividends is a key element of AFG’s capital management strategy. This dividend increase underscores our confidence in the company’s strong financial position, liquidity, and long-term growth prospects.”
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.
