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Regional property and casualty insurance State Auto Financial (NASDAQ: STFC ) announced today its third-quarter dividend of $0.10 per share, the same rate it's paid for the past three quarters, after cutting the payout 33%, from $0.15 per share.
The board of directors said the quarterly dividend is payable on Sept. 30 to the holders of record at the close of business on Sept. 11. The payout marks the 89th consecutive quarterly dividend declared by the company's board since its IPO in 1991.
The regular dividend payment equates to a $0.40-per-share annual dividend, yielding 2% based on the closing price today of State Auto Financial's stock.