MARIETTA, Pa. (AP) -- The Donegal Group announced a 4 percent hike in its quarterly dividend Friday.
The insurance holding company declared a quarterly dividend of 12.75 cents per share for its Class A common stock and 11.5 cents per share for its Class B common stock. The dividends are payable on May 15 to shareholders of record as of the close of business on May 1.
This represents a 4.1 percent increase for its Class A stock and 4.5 percent increase for its Class B stock.
Shares of Donegal Group Inc., based in Marietta, Pa, fell 18 cents to $15.18 by midmorning. The company reported a 17 percent decline in first-quarter profits this week.