Erie Indemnity (ERIE) Raises Quarterly Dividend 7.3% to $0.84, 2.8% Yield; Announces Management Fee Increase

Erie Indemnity (NASDAQ: ERIE) declared a quarterly dividend of $0.84 per share, or $3.36 annualized. This is a 7.3% increase from the prior dividend of $0.7825.

The dividend will be payable on January 23, 2018, to stockholders of record on January 8, 2018, with an ex-dividend date of January 5, 2018.

The annual yield on the dividend is 2.8 percent.

Management Fee Increase

The Board agreed to maintain the current management fee rate paid to Erie Indemnity Company by Erie Insurance Exchange at 25 percent, effective Jan. 1, 2018. The management fee rate was 25 percent for the period Jan. 1 through Dec. 31, 2017. The Board has the authority under the agreement with the subscribers (policyholders) at Erie Insurance Exchange to set the management fee rate at its discretion; however, the maximum fee rate permissible by the agreement is 25 percent. This action was taken based on the Board's consideration and review of the relative financial positions of Erie Insurance Exchange and Erie Indemnity Company.

For a dividend history and other dividend-related data on Erie Indemnity (ERIE) click here.

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