Erie Indemnity increases dividend 7.1%, maintains management fee rate

Erie Indemnity (ERIE) set the management fee rate charged to Erie Insurance Exchange, approved an increase in shareholder dividends and declared the regular quarterly dividend. The Board agreed to maintain the current management fee rate paid to Erie Indemnity Company by Erie Insurance Exchange at 25%, effective Jan. 1, 2025. The Board also agreed to increase the regular quarterly cash dividend from $1.275 to $1.365 on each Class A share and from $191.25 to $204.75 on each Class B share. This represents a 7.1% increase in the payout per share over the current dividend rate. The next quarterly dividend is payable Jan. 22, 2025, to shareholders of record as of Jan. 7, 2025, with a dividend ex-date of Jan. 7, 2025.