American Financial Group (AFG) Raises Dividend by 12%

August 17, 2016 4:32 PM EDT

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American Financial Group, Inc. (NYSE: AFG) announced that its Board of Directors has approved an increase in the Company’s regular annual dividend from $1.12 to $1.25 per share of common stock. The increased dividend, when declared, will be paid on a quarterly basis of $0.3125 per share of common stock beginning in October 2016. The new dividend rate represents a 12% increase over the annual rate paid thus far in 2016. The Company has increased its dividend in each of the last eleven 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 AFG’s annual dividend paid to shareholders. This increase reflects our confidence in the Company’s financial condition, liquidity, and prospects for long-term growth. Returning excess capital to shareholders through dividends is a key component of our capital management strategy. AFG’s five-year compounded annual growth rate in dividends is approximately 12%.”

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