American Financial Group, Inc. Declares Special Dividend
13 Dezember 2021 - 10:59PM
Business Wire
American Financial Group, Inc. (NYSE: AFG) announced today that
it has declared a special, one-time cash dividend of $2.00 per
share of American Financial Group Common Stock. The dividend is
payable on December 30, 2021, to holders of record on December 24,
2021. The aggregate amount of the payment to be made in connection
with this special dividend will be approximately $170 million. This
special dividend is in addition to the Company’s regular quarterly
cash dividend of $0.56 per share most recently paid on October 25,
2021. With this special dividend, the Company has declared $26.00
per share in special dividends in 2021.
AFG Co-CEOs Carl H. Lindner III and S. Craig Lindner stated:
“Returning excess capital to shareholders in the form of this $2.00
special dividend is an important and effective component of our
capital management strategy; it reflects AFG’s strong financial
position and our confidence in the Company’s financial future. Our
excess capital remains at a significant level, which affords us the
financial flexibility to grow our Specialty P&C business
organically and through acquisitions and start-ups that meet our
target return thresholds, make opportunistic repurchases of AFG’s
stock and pay additional dividends.”
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 outbreak, including the
effects on the international and national economy and credit
markets, legislative or regulatory developments affecting the
insurance industry, quarantines or other travel or health-related
restrictions; 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/20211213005995/en/
Diane P. Weidner, IRC Vice President – Investor & Media
Relations 513-369-5713
Websites: www.AFGinc.com
www.GreatAmericanInsuranceGroup.com
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