Cincinnati Financial (CINF) will raise its quarterly dividend by six percent to $0.53 per share in the first quarter of 2018. Dividend Aristocrat CINF hiked its dividend by 4.2 percent in 2017.

The dividend is payable April 16, 2018, to shareholders of record as of March 21, 2018. The new dividend yield for CINF is 2.7%.

Steven J. Johnston, president and chief executive officer, commented, "Over the past 57 years, Cincinnati Financial shareholders have benefited from increasing dividends, and this action lays the groundwork for a 58(th) year. Reflecting confidence in our long-term outlook, today the board also authorized an additional 15 million shares, expanding our current repurchase program. While dividends remain our primary means of returning capital to shareholders, this authorization gives us discretion to evaluate the many factors affecting periodic capital management decisions.

Cincinnati Financial Corporation offers business, home and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of CINF's other subsidiaries, including life insurance, fixed annuities and surplus lines property and casualty insurance. The company segments are commercial lines insurance, personal lines insurance, excess and surplus lines insurance, and life insurance and investments.