Erie Indemnity Company's Board of Directors approved a 7.1% increase in the regular quarterly cash dividend for both Class A and Class B shares. This decision reflects the company's commitment to returning value to its shareholders.
The new Class A quarterly dividend is set at $1.37 per share, representing a notable increase from previous payouts. This dividend adjustment was made during the board's regular meeting held on December 10, 2024.
In addition to the dividend increase, the Board also established the management fee rate charged to the Erie Insurance Exchange. This fee structure is central to Erie Indemnity's revenue model as the attorney-in-fact for the Exchange.
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