Selective Insurance Declares $0.43 Quarterly Dividend
Selective Insurance Group Inc (Nasdaq: SIGI), a property and casualty insurance holding company, declared a quarterly cash dividend of $0.43 per common share. The dividend is payable June 1, 2026, to shareholders of record as of May 15, 2026.
Selective Insurance Group Inc (Nasdaq: SIGI), a property and casualty insurance holding company, declared a quarterly cash dividend of $0.43 per common share. The dividend is payable June 1, 2026, to shareholders of record as of May 15, 2026. Read more dividend announcements.
The board also approved a quarterly dividend of $287.50 per share on the company's 4.60% Non-Cumulative Preferred Stock, Series B, equivalent to $0.28750 per depositary share. That payment goes out June 15, 2026, to preferred shareholders of record as of May 29, 2026.
| Dividend Details | Common Stock | Preferred Stock Series B |
|---|---|---|
| Amount | $0.43 per share | $287.50 per share ($0.28750 per depositary share) |
| Record Date | May 15, 2026 | May 29, 2026 |
| Payment Date | June 1, 2026 | June 15, 2026 |
First Quarter Financial Performance
Selective reported net income of $1.58 per diluted common share for the first quarter of 2026. Book value per common share declined $0.16 during the quarter to $56.58, primarily due to a $1.20 increase in after-tax net unrealized losses on the company's fixed income securities portfolio driven by higher interest rates and the $0.43 common dividend payment.
Net investment income after-tax jumped 18% to $113.1 million from $95.6 million in the prior-year quarter. The investment portfolio yielded 4.0% after-tax, up from 3.8% a year earlier, with the fixed income portfolio delivering a 4.2% after-tax yield. Investment income contributed 13.3 points to annualized return on equity.
The company's investment portfolio totaled $11.39 billion as of March 31, 2026, representing $3.36 of invested assets per dollar of common stockholders' equity. Total assets stood at $15.32 billion.
Share Repurchases
Selective repurchased $30 million of common stock during the first quarter, buying back 337,303 shares at an average price of $88.94. Common stockholders' equity ended the quarter at $3.39 billion.
2026 Guidance
The company maintained its full-year guidance, expecting a GAAP combined ratio of 96.5% to 97.5%, which includes six points of net catastrophe losses. Selective projects after-tax net investment income of $465 million and an overall effective tax rate of 21.5%.
Management lowered its weighted average fully diluted share count estimate to 60.5 million from 61 million, reflecting first-quarter repurchases. The company holds 10 property and casualty insurance subsidiaries rated A+ by AM Best.