[August 18, 2014] |
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American Financial Group, Inc. Increases Annual Dividend by 14%
CINCINNATI --(Business Wire)--
American Financial Group, Inc. (NYSE/NASDAQ: 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."
About American Financial Group, Inc.
American Financial Group is an insurance holding company, based in
Cincinnati, Ohio with assets of approximately $45 billion. Through the
operations of Great American Insurance Group, AFG is engaged primarily
in property and casualty insurance, focusing on specialized commercial
products for businesses, and in the sale of fixed and fixed-indexed
annuities in the retail, financial institutions and education markets.
Great American Insurance Group's roots go back to 1872 with the founding
of its flagship company, Grea 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
and investment activities; recoverability of asset values; expected
losses and the adequacy of reserves for long-term care, 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; AFG's ability to estimate accurately the likelihood, magnitude
and timing of any losses in connection with investments in the
non-agency residential mortgage market; 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; regulatory actions (including changes in
statutory accounting rules); 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 civil unrest and other major losses;
development of insurance loss reserves and establishment of other
reserves, particularly with respect to amounts associated with asbestos
and environmental claims and AFG's run-off long-term care business;
availability of reinsurance and ability of reinsurers to pay their
obligations; trends in persistency, mortality and morbidity; competitive
pressures, including those in the annuity distribution channels, 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 our operating subsidiaries; and other factors
identified in our 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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