Cincinnati Financial is keeping its long streak of dividend increases intact. The company last week declared a quarterly distribution of $0.42 per share, to be dispensed on Oct. 15 to shareholders of record as of Sept. 18.
That amount is $0.0125, or 3%, higher than the firm's previous distribution of $0.4075, which was paid last month.
The firm is a habitual dividend raiser. In the press release announcing the news, it pointed out that this marks the 53rd consecutive year the distribution has been increased.
The new dividend annualizes to $1.68 per share. That yields 3.5% at Cincinnati Financial's stock price at the time of writing of $47.36.
The article Cincinnati Financial Raises Dividend originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Cincinnati Financial. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.