State Auto Financial Corp. said Monday it will double its dividend to 9 cents a share.
The Columbus, Ohio-based insurer will pay the dividend Sept. 30 to shareholders of record as of Sept. 15. Its current dividend is 4.5 cents a share.
State Auto said consistent profitable results have allowed it to raise its dividend every year since it went public in 1991.
State Auto is a property and casualty insurer with about $1.1 billion in annual revenue. State Auto Mutual Insurance Co., a privately held insurer based in Columbus, holds about 65 percent of its stock.