Cincinnati Financial (NASDAQ:CINF) is keeping its long streak of dividend increases intact. The company last week declared a quarterly distribution of $0.42 per share, to be dispensed on Oct. 15 to shareholders of record as of Sept. 18.
That amount is $0.0125, or 3%, higher than the firm's previous distribution of $0.4075, which was paid last month.
The firm is a habitual dividend raiser. In the press release announcing the news, it pointed out that this marks the 53rd consecutive year the distribution has been increased.
The new dividend annualizes to $1.68 per share. That yields 3.5% at Cincinnati Financial's stock price at the time of writing of $47.36.