American Financial Group (AFG) will raise its quarterly dividend to $0.35 per share.

The new dividend will be paid on a quarterly basis of $0.35 per share of common stock beginning in October 2017.

Carl H. Lindner III and S. Craig Lindner, AFG’s Co-Chief Executive Officers, issued this joint statement: “Returning excess capital to shareholders through dividends is a key component of AFG’s capital management strategy. We are pleased to announce this increase in AFG’s annual dividend paid to shareholders, which reflects our confidence in the Company’s financial condition, liquidity, and prospects for long-term growth. AFG’s five-year compounded annual growth rate in regular dividends is approximately 12%.”

American Financial Group is an insurance holding company, based in Cincinnati, Ohio. Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets.