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Cincinnati Financial (CINF) Boosts Quarterly Dividend by 8%
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Cincinnati Financial Corporation’s (CINF - Free Report) board of directors approved an 8% increase in its regular quarterly cash dividend. The dividend, now at 81 cents per share, reflects the company's commitment to delivering value to its shareholders. The previous dividend of 75 cents per share was paid on Jan 16, 2024. Shareholders of record as of Mar 19 will receive the new dividend on Apr 15, 2024.
Steven J. Johnston, chairman and CEO, emphasizes the company's long-term approach to creating value for shareholders. Cincinnati Financial boasts an impressive record of 64 consecutive years of dividend increases, a feat matched by only a handful of U.S. publicly traded companies. This decision aligns with the company's agency-centered strategy and is indicative of management's optimism.
New businesses, strong rates, an agent-centric model and growing Commercial Lines Insurance should help CINF retain the momentum. Notably, its free cash flow conversion has been impressive over the last several quarters, reflecting its solid earnings.
Cincinnati Financial's capital management strategy includes returning capital to shareholders through share buybacks, regular cash dividends and special dividends. The company's commitment to consistently increasing its annual cash dividend rate underscores its strong operating performance. The 3% dividend yield surpasses the industry average of 0.3%, making Cincinnati Financial an appealing choice for investors seeking stable returns.
Shares of this Zacks Rank #2 (Buy) company have gained 7.8% year to date, outperforming the industry’s increase of 7.7%. A higher level of insured exposures, rate increase, agent-focused business model, consistent cash flow and a solid capital position should continue to drive shares.
Other Stocks to Consider
Some other top-ranked stocks from the same space are CNA Financial Corporation (CNA - Free Report) , The Progressive Corporation (PGR - Free Report) and The Travelers Companies (TRV - Free Report) .
CNA Financial delivered a trailing four-quarter average earnings surprise of 9.24%. The stock has gained 4.5% Year to date. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CNA’s 2024 earnings indicates an increase of 8.8% from the 2023 estimated figure. The expected long-term earnings growth rate is 5%. The consensus estimate for 2024 earnings has moved up 1.5% in the past 30 days.
Progressive’s earnings surpassed estimates in two of the last four quarters while missing in the other two. The stock has gained 13% Year to date. It sports a Zacks Rank #1.
The Zacks Consensus Estimate for PGR’s 2024 earnings implies a rise of 40.3% year over year. The expected long-term earnings growth rate is 20.9%. The consensus estimate for CB’s 2024 earnings has moved up 5.3% in the past seven days.
Travelers delivered a trailing four-quarter average earnings surprise of 0.20%. Year to date, the stock has gained 11.2%. It carries a Zacks Rank #2.
The Zacks Consensus Estimate for TRV’s 2024 earnings indicates an increase of 33.4% year over year. The expected long-term earnings growth rate is 11.5%. The consensus estimate for TRV’s 2024 earnings has moved up 1.2% in the past seven days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Cincinnati Financial (CINF) Boosts Quarterly Dividend by 8%
Cincinnati Financial Corporation’s (CINF - Free Report) board of directors approved an 8% increase in its regular quarterly cash dividend. The dividend, now at 81 cents per share, reflects the company's commitment to delivering value to its shareholders. The previous dividend of 75 cents per share was paid on Jan 16, 2024. Shareholders of record as of Mar 19 will receive the new dividend on Apr 15, 2024.
Steven J. Johnston, chairman and CEO, emphasizes the company's long-term approach to creating value for shareholders. Cincinnati Financial boasts an impressive record of 64 consecutive years of dividend increases, a feat matched by only a handful of U.S. publicly traded companies. This decision aligns with the company's agency-centered strategy and is indicative of management's optimism.
New businesses, strong rates, an agent-centric model and growing Commercial Lines Insurance should help CINF retain the momentum. Notably, its free cash flow conversion has been impressive over the last several quarters, reflecting its solid earnings.
Cincinnati Financial's capital management strategy includes returning capital to shareholders through share buybacks, regular cash dividends and special dividends. The company's commitment to consistently increasing its annual cash dividend rate underscores its strong operating performance. The 3% dividend yield surpasses the industry average of 0.3%, making Cincinnati Financial an appealing choice for investors seeking stable returns.
Shares of this Zacks Rank #2 (Buy) company have gained 7.8% year to date, outperforming the industry’s increase of 7.7%. A higher level of insured exposures, rate increase, agent-focused business model, consistent cash flow and a solid capital position should continue to drive shares.
Other Stocks to Consider
Some other top-ranked stocks from the same space are CNA Financial Corporation (CNA - Free Report) , The Progressive Corporation (PGR - Free Report) and The Travelers Companies (TRV - Free Report) .
CNA Financial delivered a trailing four-quarter average earnings surprise of 9.24%. The stock has gained 4.5% Year to date. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CNA’s 2024 earnings indicates an increase of 8.8% from the 2023 estimated figure. The expected long-term earnings growth rate is 5%. The consensus estimate for 2024 earnings has moved up 1.5% in the past 30 days.
Progressive’s earnings surpassed estimates in two of the last four quarters while missing in the other two. The stock has gained 13% Year to date. It sports a Zacks Rank #1.
The Zacks Consensus Estimate for PGR’s 2024 earnings implies a rise of 40.3% year over year. The expected long-term earnings growth rate is 20.9%. The consensus estimate for CB’s 2024 earnings has moved up 5.3% in the past seven days.
Travelers delivered a trailing four-quarter average earnings surprise of 0.20%. Year to date, the stock has gained 11.2%. It carries a Zacks Rank #2.
The Zacks Consensus Estimate for TRV’s 2024 earnings indicates an increase of 33.4% year over year. The expected long-term earnings growth rate is 11.5%. The consensus estimate for TRV’s 2024 earnings has moved up 1.2% in the past seven days.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.