American Financial Group, Inc. Declares Special Dividend
10 12월 2020 - 6:45AM
Business Wire
American Financial Group, Inc. (NYSE: AFG) announced today that
it has declared a special, one-time cash dividend of $2.00 per
share of American Financial Group Common Stock. The dividend is
payable on December 29, 2020 to holders of record on December 21,
2020. The aggregate amount of the payment to be made in connection
with this special dividend will be approximately $174 million.
This special dividend is in addition to the Company’s regular
quarterly cash dividend of $0.50 per share that was last paid on
October 26, 2020.
AFG Co-CEOs Carl H. Lindner III and S. Craig Lindner stated:
“Returning excess capital to shareholders in the form of this $2.00
special dividend is an important and effective component of our
capital management strategy; it reflects AFG’s strong financial
position and our confidence in the Company’s financial future.
Following the payment of this special dividend, our excess capital
remains at a level which affords us the financial flexibility to
grow our business organically and through acquisitions and
start-ups that meet our target return thresholds, and to make
opportunistic repurchases of AFG’s stock.”
About American Financial Group,
Inc.
American Financial Group is an insurance holding company, based
in Cincinnati, Ohio with assets of approximately $70 billion as of
September 30, 2020. 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 traditional fixed and indexed
annuities in the retail, financial institutions, broker-dealer, and
registered investment advisor markets. Great American Insurance
Group’s roots go back to 1872 with the founding of its flagship
company, Great 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, investment
activities and the amount and timing of share repurchases;
recoverability of asset values; expected losses and the adequacy of
reserves for 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, including the cost of equity index options; 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; changes in
insurance law or regulation, including changes in statutory
accounting rules and changes in regulation of the Lloyd’s market,
including modifications to capital requirements; changes in costs
associated with the exit from the Lloyd’s market and the run-off of
AFG’s Lloyd’s-based insurer, Neon; the effects of the COVID-19
outbreak, including the effects on the international and national
economy and credit markets, legislative or regulatory developments
affecting the insurance industry, quarantines or other travel or
health-related restrictions; 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
pandemics, civil unrest and other major losses; disruption caused
by cyber-attacks or other technology breaches or failures by AFG or
its business partners and service providers, which could negatively
impact AFG’s business and/or expose AFG to litigation; development
of insurance loss reserves and establishment of other reserves,
particularly with respect to amounts associated with asbestos and
environmental claims; availability of reinsurance and ability of
reinsurers to pay their obligations; trends in persistency and
mortality; competitive pressures; 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
AFG’s operating subsidiaries; the impact of the conditions in the
international financial markets and the global economy relating to
AFG’s international operations; and other factors identified in
AFG’s 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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version on businesswire.com: https://www.businesswire.com/news/home/20201209005997/en/
Diane P. Weidner, IRC Vice President – Investor & Media
Relations (513) 369-5713
Websites: www.AFGinc.com
www.GreatAmericanInsuranceGroup.com
American Financial (NYSE:AFG)
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American Financial (NYSE:AFG)
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