American Financial Group, Inc. Increases Annual Dividend by 12%; Tenth Consecutive Year of Dividend Increases
26 August 2015 - 7:22AM
Business Wire
American Financial Group, Inc. (NYSE: AFG) announced that its
Board of Directors has approved an increase in the Company’s
regular annual dividend from $1.00 to $1.12 per share of common
stock. The increased dividend, when declared, will be paid on a
quarterly basis of $0.28 per share of common stock beginning in
October 2015. The new dividend rate represents a 12% increase over
the annual rate paid thus far in 2015. The Company has increased
its dividend in each of the last ten years.
Carl Lindner III and Craig Lindner, AFG’s Co-Chief Executive
Officers, issued this joint statement: “We are pleased to announce
this increase in the annual dividend paid to shareholders; a key
component of our capital management strategy is to return excess
capital to shareholders through dividends. AFG’s five-year
compounded annual growth rate in dividends is approximately 12%.
This increase reflects our confidence in the Company’s financial
condition, liquidity, and prospects for long-term growth.”
About American Financial Group,
Inc.
American Financial Group is an insurance holding company, based
in Cincinnati, Ohio with assets over $45 billion. Through the
operations of Great American Insurance Group, AFG is engaged
primarily in property and casualty insurance, focusing on
specialized commercial products for businesses, and in the sale of
fixed and fixed-indexed annuities in the retail, financial
institutions and education markets. Great American Insurance
Group’s roots go back to 1872 with the founding of its flagship
company, Great American Insurance Company.
Forward Looking
Statements
This press release contains certain statements that may be
deemed to be "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements in this press
release not dealing with historical results are forward-looking and
are based on estimates, assumptions and projections. Examples of
such forward-looking statements include statements relating to: the
Company's expectations concerning market and other conditions and
their effect on future premiums, revenues, earnings and investment
activities; recoverability of asset values; expected losses and the
adequacy of reserves for long-term care, asbestos, environmental
pollution and mass tort claims; rate changes; and improved loss
experience.
Actual results and/or financial condition could differ
materially from those contained in or implied by such
forward-looking statements for a variety of reasons including but
not limited to: changes in financial, political and economic
conditions, including changes in interest and inflation rates,
currency fluctuations and extended economic recessions or
expansions in the U.S. and/or abroad; performance of securities
markets; AFG’s ability to estimate accurately the likelihood,
magnitude and timing of any losses in connection with investments
in the non-agency residential mortgage market; new legislation or
declines in credit quality or credit ratings that could have a
material impact on the valuation of securities in AFG’s investment
portfolio; the availability of capital; the possibility that the
pending sale of AFG’s run-off long-term care business is not
consummated; regulatory actions (including changes in statutory
accounting rules); changes in the legal environment affecting AFG
or its customers; tax law and accounting changes; levels of natural
catastrophes and severe weather, terrorist activities (including
any nuclear, biological, chemical or radiological events),
incidents of war or losses resulting from civil unrest and other
major losses; development of insurance loss reserves and
establishment of other reserves, particularly with respect to
amounts associated with asbestos and environmental claims and AFG’s
run-off long-term care business; availability of reinsurance and
ability of reinsurers to pay their obligations; trends in
persistency, mortality and morbidity; competitive pressures,
including those in the annuity distribution channels, the ability
to obtain adequate rates and policy terms; changes in AFG’s credit
ratings or the financial strength ratings assigned by major ratings
agencies to our operating subsidiaries; and other factors
identified in our filings with the Securities and Exchange
Commission.
The forward-looking statements herein are made only as of the
date of this press release. The Company assumes no obligation to
publicly update any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20150825006341/en/
American Financial Group, Inc.Diane P. Weidner,
513-369-5713Asst. Vice President - Investor RelationsorWebsites:www.AFGinc.comwww.GreatAmericanInsuranceGroup.com
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