Donegal Group Inc. Announces Increase in Quarterly Dividend

Rhea-AI Summary

Donegal Group has announced a quarterly cash dividend of $0.17 per share for Class A stock and $0.1525 for Class B stock, payable on May 15, 2023, to shareholders of record as of May 1, 2023. This represents a 3.0% increase for Class A and a 3.4% increase for Class B compared to the last dividend rates. The company operates across 24 states through its insurance subsidiaries, offering property and casualty insurance. Donegal Group has an A.M. Best rating of A (Excellent) and focuses on enhancing financial performance and modernizing operations.

Positive

• Quarterly dividend declared: $0.17 (Class A), $0.1525 (Class B).
• 3.0% increase for Class A dividend, 3.4% for Class B.
• Strong A.M. Best rating of A (Excellent) for insurance subsidiaries.

Negative

• None.

MARIETTA, Pa., April 20, 2023 (GLOBE NEWSWIRE) -- Donegal Group Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB) reported today that its board of directors declared a regular quarterly cash dividend of $0.17 per share of the Company’s Class A common stock and $0.1525 per share of the Company’s Class B common stock. The dividends are payable on May 15, 2023 to stockholders of record as of the close of business on May 1, 2023.

These dividends represent percentage increases of 3.0% for the Company’s Class A common stock and 3.4% for the Company’s Class B common stock compared to the previous quarterly cash dividend rates.

About Donegal Group Inc.

Donegal Group Inc. is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in 24 Mid-Atlantic, Midwestern, New England, Southern and Southwestern states. Donegal Mutual Insurance Company and its insurance subsidiaries conduct business together with the insurance subsidiaries of Donegal Group Inc. as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent).

The Class A common stock and Class B common stock of Donegal Group Inc. trade on the NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively. The Company is focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing its operations and processes to transform its business, capitalizing on opportunities to grow profitably and delivering a superior experience to its agents and customers.

Investor Relations Contact

Karin Daly
Vice President, The Equity Group Inc.
Phone: (212) 836-9623
E-mail: kdaly@equityny.com

FAQ

What is the dividend amount for DGICA and DGICB in 2023?

The dividend for DGICA is $0.17 per share, and for DGICB, it is $0.1525 per share.

When is the dividend payable for DGICA and DGICB?

The dividend is payable on May 15, 2023.

What is the percentage increase in the dividend for DGICA and DGICB?

The dividend increased by 3.0% for DGICA and 3.4% for DGICB compared to the previous rates.

What is the A.M. Best rating of Donegal Group?

Donegal Group has an A.M. Best rating of A (Excellent).

What types of insurance does Donegal Group offer?

Donegal Group offers property and casualty lines of insurance.