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2021-12-10 15:01
04:45 PM EST, 12/09/2021 (MT Newswires) -- Erie Indemnity (ERIE) said its board has approved a 7.2% increase in its quarterly dividend rate and maintained the current management fee rate charged to Erie Insurance Exchange.
Erie's board raised its quarterly dividend to $1.11 from $1.035 per Class A share and to $166.50 from $155.25 per Class B share. The dividends are payable on Jan. 20 to shareholders of record as of Jan. 5.
The board also decided to maintain the current management fee rate paid to Erie Indemnity Company by Erie Insurance Exchange at 25%, effective Jan. 1. The rate is the maximum possible under its agreement with Erie Insurance Exchange policyholders.