American Financial Group, Inc. Increases Annual Common Stock Dividend by 12.5%; Seventeenth Consecutive Year of Dividend Increases
17 August 2022 - 10:30PM
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 to $2.52 from $2.24 per share of common
stock. The increased dividend, when declared, will be paid on a
quarterly basis of $0.63 per share of common stock beginning in
October 2022. The new dividend rate represents a 12.5% increase
over the annual rate paid thus far in 2022. The Company has
increased its dividend in each of the last seventeen years.
Carl H. Lindner III and S. Craig Lindner, AFG’s Co-Chief
Executive Officers, issued this statement: “Returning excess
capital to shareholders in the form of dividends is an important
and effective component of AFG’s capital management strategy. This
increase in AFG’s annual dividend 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. 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.
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, investment
activities and the amount and timing of share repurchases;
recoverability of asset values; expected losses and the adequacy of
reserves for 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; 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; changes in insurance law or regulation, including changes
in statutory accounting rules, including modifications to capital
requirements; the effects of the COVID-19 pandemic; 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 pandemics, civil unrest and other major losses;
disruption caused by cyber-attacks or other technology breaches or
failures by AFG or its business partners and service providers,
which could negatively impact AFG’s business and/or expose AFG to
litigation; development of insurance loss reserves and
establishment of other reserves, particularly with respect to
amounts associated with asbestos and environmental claims;
availability of reinsurance and ability of reinsurers to pay their
obligations; competitive pressures; 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
AFG’s operating subsidiaries; the impact of the conditions in the
international financial markets and the global economy relating to
AFG’s international operations; and other factors identified in
AFG’s 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: https://www.businesswire.com/news/home/20220817005717/en/
Diane P. Weidner, IRC Vice President – Investor & Media
Relations 513-369-5713
Websites: www.AFGinc.com
www.GreatAmericanInsuranceGroup.com
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