American Financial declares an extra dividend as underwriting profit falls
American Financial Group declared a $3.50 special dividend. Our comparison separates the property-sale contribution to record core earnings from underwriting performance.
Ticker Byline
American Financial Group, Inc.
American Financial Group provides specialty property and casualty insurance. It earns money from underwriting insurance and investing the premiums collected before claims are paid.
- Ticker
- AFG
- Exchange
- XNYS
- SEC CIK
- 0001042046
A record profit with different sources
The November special dividend follows a quarter in which investment income, including the completed Charleston Harbor Resort & Marina sale, lifted earnings. Underwriting profit declined despite improvement in two of the three specialty groups.
| Measure | 2026 | 2025 |
|---|---|---|
| Net income | $282 | $215 |
| Core diluted earnings per share | $3.97 | $2.69 |
| Specialty underwriting profit | $133 | $139 |
The company’s core earnings measure excludes items it classifies as non-core, but includes the Charleston property-sale gain. The sale contributed $1.21 a share to the third-quarter core result.
Capital and shareholder payments
At September 30, cash and cash equivalents totaled $1.348 billion: $304 million at the parent and other operations, and $1.044 billion in the property and casualty businesses. Debt principal was $1.848 billion.
The $3.50-a-share special dividend is payable November 25 to shareholders of record November 16. It is separate from the regular quarterly dividend of $0.97 a share paid October 23.
Read our analysis of the special dividend and the sources of earnings.
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