Cincinnati Financial Corporation (NASDAQ: CINF) has announced an increase in its regular quarterly cash dividend. The board of directors declared an 87-cents-per-share dividend, marking a 7% increase from the previous 81-cents-per-share dividend paid on January 15, 2025. This marks the 65th consecutive year of dividend increases for the company.
The dividend is payable on April 15, 2025, to shareholders of record as of March 24, 2025. The company's president and chief executive officer, Stephen M. Spray, emphasized the company's commitment to building financial strength to meet insurance obligations and creating value for shareholders.
However, the recent California wildfires have had a significant financial impact on the company, with a material effect on earnings for the first quarter of 2025. The company stated that it will take additional time to analyze claim information and provide a meaningful estimate of losses. Despite this, the board of directors expressed confidence in the company's overall financial position by increasing the dividend.
Cincinnati Financial Corporation, which primarily offers business, home, and auto insurance through its subsidiaries, is also responsible for managing its capital to ensure ample capacity to absorb insured losses and pay dividends.
As a result of these announcements, the company's shares have moved -1.4% on the market, and are now trading at a price of $137.05. If you want to know more, read the company's complete 8-K report here.
