Cincinnati Financial Corporation (NASDAQ: CINF) has declared a regular quarterly cash dividend of 81 cents per share. The dividend is payable on October 15, 2024, to shareholders of record as of September 17, 2024.
Stephen M. Spray, president and chief executive officer, highlighted that the payment of this dividend in October will complete 64 years of increasing annual cash dividends. This achievement is considered rare, with only seven other public companies in the U.S. able to claim such a record.
The company's confidence in its capital strength and ability to achieve industry-leading operating performance through its insurance business reinforces the belief that it will continue to generate shareholder value through stock price appreciation and dividend payments far into the future.
Cincinnati Financial Corporation primarily offers business, home, and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies. Additionally, the company's subsidiaries offer life insurance, fixed annuities, and surplus lines property and casualty insurance.
In the previous period, the company paid a regular quarterly cash dividend of 60 cents per share. This represents a significant increase of 35% in the dividend payout compared to the previous quarter.
The announcement of the increased dividend payout reflects the company's commitment to delivering value to its shareholders and its positive outlook on its financial performance and future prospects. Today the company's shares have moved 0.6% to a price of $132.81. Check out the company's full 8-K submission here.
