American Financial Group, Inc. (NYSE:AFG) announced that its Board of Directors has approved an increase in the Company’s regular annual dividend to $2.84 from $2.52 per share of common stock. The increased dividend, when declared, will be paid on a quarterly basis of $0.71 per share of common stock beginning in October 2023. The new dividend rate is a 12.7% increase over the declared rate. The Company has increased its dividend in each of the last eighteen years. The ten-year compound annual growth rate in AFG’s regular annual dividends paid is 12.4%.
S. Craig Lindner and Carl H. Lindner III, 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.
