Erie Indemnity Approves Management Fee Rate and Dividend Increase, Declares Regular Dividends
Erie Indemnity (NASDAQ: ERIE) announced two key decisions from its December 10, 2024 Board meeting. First, the Board maintained the management fee rate at 25% charged to Erie Insurance Exchange, effective January 1, 2025. Second, the Board approved a 7.1% increase in quarterly dividends, raising Class A shares from $1.275 to $1.365 and Class B shares from $191.25 to $204.75. The next dividend payment is scheduled for January 22, 2025, with a record date of January 7, 2025. Erie Indemnity has consistently paid regular shareholder dividends since 1933.
Erie Indemnity (NASDAQ: ERIE) ha annunciato due decisioni chiave durante la riunione del Consiglio del 10 dicembre 2024. In primo luogo, il Consiglio ha mantenuto l'aliquota della commissione di gestione al 25% applicata all'Erie Insurance Exchange, a partire dal 1 gennaio 2025. In secondo luogo, il Consiglio ha approvato un aumento del 7,1% nei dividendi trimestrali, portando il valore delle azioni di Classe A da $1,275 a $1,365 e quello delle azioni di Classe B da $191,25 a $204,75. Il prossimo pagamento di dividendi è previsto per il 22 gennaio 2025, con una data di registrazione del 7 gennaio 2025. Erie Indemnity ha costantemente pagato dividendi regolari agli azionisti dal 1933.
Erie Indemnity (NASDAQ: ERIE) anunció dos decisiones clave en su reunión de la Junta del 10 de diciembre de 2024. Primero, la Junta mantuvo la tasa de comisión de gestión en el 25% aplicada a Erie Insurance Exchange, que entrará en vigor el 1 de enero de 2025. Segundo, la Junta aprobó un aumento del 7,1% en los dividendos trimestrales, aumentando las acciones de Clase A de $1.275 a $1.365 y las acciones de Clase B de $191.25 a $204.75. El próximo pago de dividendos está programado para el 22 de enero de 2025, con una fecha de registro del 7 de enero de 2025. Erie Indemnity ha pagado consistentemente dividendos regulares a los accionistas desde 1933.
Erie Indemnity (NASDAQ: ERIE)는 2024년 12월 10일 이사회 회의에서 두 가지 주요 결정을 발표했습니다. 첫 번째로, 이사회는 Erie Insurance Exchange에 부과되는 관리 수수료 비율을 25%로 유지하기로 결정했으며, 이는 2025년 1월 1일부터 유효합니다. 두 번째로, 이사회는 분기 배당금을 7.1% 증가시킬 것을 승인하여, A 클래스 주식을 $1.275에서 $1.365로, B 클래스 주식을 $191.25에서 $204.75로 인상했습니다. 다음 배당금 지급은 2025년 1월 22일에 예정되어 있으며, 기록 날짜는 2025년 1월 7일입니다. Erie Indemnity는 1933년 이후로 꾸준히 정기적인 주주 배당금을 지급해왔습니다.
Erie Indemnity (NASDAQ: ERIE) a annoncé deux décisions clés lors de sa réunion du conseil d'administration du 10 décembre 2024. Tout d'abord, le conseil a maintenu le taux de frais de gestion à 25% appliqué à l'Erie Insurance Exchange, à compter du 1er janvier 2025. Deuxièmement, le conseil a approuvé une augmentation de 7,1% des dividendes trimestriels, faisant passer les actions de classe A de 1,275 $ à 1,365 $ et les actions de classe B de 191,25 $ à 204,75 $. Le prochain paiement de dividende est prévu pour le 22 janvier 2025, avec une date d'enregistrement au 7 janvier 2025. Erie Indemnity a constamment versé des dividendes réguliers à ses actionnaires depuis 1933.
Erie Indemnity (NASDAQ: ERIE) gab zwei wichtige Entscheidungen aus seiner Vorstandssitzung am 10. Dezember 2024 bekannt. Erstens behielt der Vorstand den Verwaltungskostenanteil von 25%, der an die Erie Insurance Exchange berechnet wird, bei, gültig ab dem 1. Januar 2025. Zweitens genehmigte der Vorstand eine 7,1%ige Erhöhung der vierteljährlichen Dividenden, wodurch die A-Aktien von $1,275 auf $1,365 und die B-Aktien von $191,25 auf $204,75 erhöht wurden. Die nächste Dividendenauszahlung ist für den 22. Januar 2025 geplant, mit einem Stichtag am 7. Januar 2025. Erie Indemnity hat seit 1933 regelmäßig Dividenden an die Aktionäre gezahlt.
- 7.1% increase in quarterly dividend payout
- Maintained maximum management fee rate of 25%
- 91-year track record of consistent dividend payments since 1933
- None.
The Board agreed to maintain the current management fee rate paid to Erie Indemnity Company by Erie Insurance Exchange at 25 percent, effective Jan. 1, 2025. The management fee rate was 25 percent for the period Jan. 1 through Dec. 31, 2024. The Board has the authority under the agreement with the subscribers (policyholders) at Erie Insurance Exchange to set the management fee rate at its discretion; however, the maximum fee rate permissible by the agreement is 25 percent. This action was taken based on various factors including consideration and review of the relative financial positions of Erie Insurance Exchange and Erie Indemnity Company.
The Board also agreed to increase the regular quarterly cash dividend from
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Statements contained herein that are not historical fact are forward-looking statements and, as such, are subject to risks and uncertainties that could cause actual events and results to differ, perhaps materially, from those discussed herein. Forward-looking statements relate to future trends, events or results and include, without limitation, statements and assumptions on which such statements are based that are related to our plans, strategies, objectives, expectations, intentions, and adequacy of resources. Examples of forward-looking statements are discussions relating to premium and investment income, expenses, operating results, and compliance with contractual and regulatory requirements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Among the risks and uncertainties, in addition to those set forth in our filings with the Securities and Exchange Commission, that could cause actual results and future events to differ from those set forth or contemplated in the forward-looking statements include the following:
- dependence upon our relationship with the Erie Insurance Exchange ("Exchange") and the management fee under the agreement with the subscribers at the Exchange;
- dependence upon our relationship with the Exchange and the growth of the Exchange, including:
- general business and economic conditions;
- factors affecting insurance industry competition, including technological innovations;
- dependence upon the independent agency system; and
- ability to maintain our brand, including our reputation for customer service;
- dependence upon our relationship with the Exchange and the financial condition of the Exchange, including:
- the Exchange's ability to maintain acceptable financial strength ratings;
- factors affecting the quality and liquidity of the Exchange's investment portfolio;
- changes in government regulation of the insurance industry;
- litigation and regulatory actions;
- emergence of significant unexpected events, including pandemics and economic or social inflation;
- emerging claims and coverage issues in the industry; and
- severe weather conditions or other catastrophic losses, including terrorism;
- costs of providing policy issuance and renewal services to the subscribers at the Exchange under the subscriber's agreement;
- ability to attract and retain talented management and employees;
- ability to ensure system availability and effectively manage technology initiatives;
- difficulties with technology or data security breaches, including cyber attacks;
- ability to maintain uninterrupted business operations;
- compliance with complex and evolving laws and regulations and outcome of pending and potential litigation;
- factors affecting the quality and liquidity of our investment portfolio; and
- ability to meet liquidity needs and access capital.
A forward-looking statement speaks only as of the date on which it is made and reflects our analysis only as of that date. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changes in assumptions, or otherwise.
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SOURCE Erie Indemnity Company
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