Donegal Group Inc. Announces Increase in Quarterly Dividend

Rhea-AI Summary

Donegal Group declared a quarterly cash dividend of $0.16 for Class A and $0.1425 for Class B common stock, payable on May 17, 2021. This reflects increases of 6.7% and 7.5%, respectively, compared to previous dividends. The company operates in 24 states and has an A.M. Best rating of A (Excellent). They aim for strong financial performance, operational modernization, and enhancing agent and customer experiences.

Positive

• Quarterly dividend of $0.16 for Class A and $0.1425 for Class B enhances shareholder income.
• Dividends increased by 6.7% for Class A and 7.5% for Class B, indicating company growth confidence.
• A.M. Best rating of A (Excellent) reflects strong financial health of the insurance subsidiaries.

Negative

• None.

MARIETTA, Pa., April 15, 2021 (GLOBE NEWSWIRE) -- Donegal Group Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB), 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, reported today that its board of directors declared a regular quarterly cash dividend of $0.16 per share of the Company’s Class A common stock and $0.1425 per share of the Company’s Class B common stock. The dividends are payable on May 17, 2021 to stockholders of record as of the close of business on May 3, 2021.

These dividends represent percentage increases of 6.7% for the Company’s Class A common stock and 7.5% for the Company’s Class B common stock compared to the previous quarterly cash dividend rates.

Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group Inc. conduct business together 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. We are focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing our operations and processes to transform our business, capitalizing on opportunities to grow profitably and delivering a superior experience to our agents and customers.

For Further Information:

Jeffrey D. Miller
Executive Vice President and Chief Financial Officer
Phone: (717) 426-1931
E-mail: investors@donegalgroup.com 

Adam Prior
Senior Vice President, The Equity Group Inc.
Phone: (212) 836-9606
E-mail: aprior@equityny.com 

FAQ

What are the dividend amounts declared by Donegal Group for Class A and Class B shares?

Donegal Group declared a dividend of $0.16 for Class A and $0.1425 for Class B shares.

When is the dividend payable to shareholders for Donegal Group?

The dividend will be payable on May 17, 2021.

What percentage increase did Donegal Group report for its Class A and Class B dividends?

The Class A dividend increased by 6.7% and the Class B dividend by 7.5%.

What is Donegal Group's A.M. Best rating?

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