CNA Financial (CNA) will increase its quarterly dividend by 2.7 percent to 38 cents per share. The insurer will also pay a special dividend of $0.75 per share in 2021. This follows a $2.00 per share paid in 2020.
The insurer also hiked its regular quarterly dividend by 5.7 percent to 37 cents per share in 2020, marking the first dividend increase since 2018. Based on calendar years the annual dividend has now been raised five consecutive years by CNA.
The new quarterly dividend of $0.38 per share and a special dividend of $0.75 per share are both payable March 11, 2021 to stockholders of record on February 22, 2021. The annual dividend rate of $1.52 per share yields 3.5% at a stock price of $42.69.
CNA Financial Corporation now pays shareholders $413 million in regular dividends annually.
CNA Financial Corporation is an insurance holding company. The company provides property and casualty insurance products and services to small, middle-market and large businesses. Its International segment provides management and professional liability coverages, as well as a range of other property and casualty insurance products and services. Loews Corporation (L) is the largest shareholder in CNA Financial with 242.65 million shares (89.38%) as of December 30, 2019. CNA Financial has paid a dividend every year since 2007.