American Financial Group (AFG) Raises Dividend 14%
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American Financial Group (NYSE: AFG) announced that its Board of Directors has approved an increase in the Company’s regular annual dividend from $0.88 to $1.00 per share of common stock. The increased dividend, when declared, will be paid on a quarterly basis of $0.25 per share of common stock beginning in October 2014. The new dividend rate represents a 14% increase over the annual rate paid thus far in 2014. The Company has increased its dividend in each of the last nine years. Craig Lindner and Carl Lindner III, AFG’s Co-Chief Executive Officers, stated, “Returning excess capital to shareholders through dividends is a key component of our capital management strategy. With this increase, AFG’s five-year compounded annual growth rate in dividends is approximately 12%. This increase reflects our confidence in the Company’s financial condition, liquidity, and prospects for long-term growth.”
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