Donegal Group (DGICA) will raise its quarterly dividend by 3.4 percent to $0.15 per share of the company's Class A common stock. This follows a 1.8 percent dividend hike in 2019 by the insurance company.

The dividend is payable on May 15, 2020 to stockholders of record on May 1, 2020. A new annual dividend amount of 60 cents per share yields 4.1% at a stock price of $14.78.. Donegal has now increased its dividend for 18 consecutive years.

Donegal Group Inc. is an insurance holding company whose insurance subsidiaries offer personal and commercial property and casualty lines of insurance in 21 Mid-Atlantic, Midwestern, New England and Southern states. The company has paid a dividend every year since 2001.