American Financial Group (AFG) declares second special dividend
Insurance company American Financial Group, Inc. (AFG) will pay a second special dividend in 2024. Shareholders will receive a $4.00 per share special dividend in November, following a $2.50 per share special dividend paid in February.
This total special dividend of $6.50 per share from American Financial comes on top of a 12.7% dividend hike in 2024, marking 19 consecutive years of increases. At a stock price of $127.44 the regular dividend yield for American Financial Group is 2.5%. The special dividend of $4.00 per share yields 3.1%.
American Financial Group special dividends
- 2024: $6.50 per share
- 2023: $5.50 per share
- 2022: $12.00 per share
- 2021: $12.00 per share
- 2020: $2.00 per share
American Financial announced that its Board of Directors has declared a special cash dividend of $4.00 per share of American Financial Group common stock. The dividend is payable on November 26, 2024, to shareholders of record on November 15, 2024. The aggregate amount of this special dividend will be approximately $335 million. This special dividend is in addition to the Company’s regular quarterly cash dividend of $0.80 per share most recently paid on October 25, 2024. With this special dividend, the Company has declared $50.00 per share in special dividends since the beginning of 2021, including $6.50 per share in 2024.
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| AFG hikes the dividend every year |
S. Craig Lindner and Carl H. Lindner III, AFG’s Co-Chief Executive Officers, issued this statement: “We are pleased with AFG’s performance during the third quarter. We achieved an annualized core operating return of 16%, with solid underwriting profitability despite elevated catastrophe losses during the quarter. P&C net investment income increased by nearly 15% year over year. These results, coupled with effective capital management, enable us to continue to create value for our shareholders.”
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Messrs. Lindner continued, “AFG continued to have significant excess capital at September 30, 2024. Returning capital to shareholders in the form of regular and special cash dividends and through opportunistic share repurchases is an important and effective component of our capital management strategy. In addition, our excess capital will be deployed into AFG’s core businesses as we identify potential for healthy, profitable organic growth, and opportunities to expand our specialty niche businesses through acquisitions and start-ups that meet our target return thresholds.”
American Financial Group is one of the Dividend Heroes in 2024.
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.
