Donegal Group Inc.
DGICA22 yrs growthFinancial Services · Insurance - Property & Casualty · Stock · quarterly payer
Forward Yield
4.12%
Annual Dividend
$0.77
Payout Ratio
39%
5-Yr Growth
3.9%
Ex-Date
Nov 2, 2026
Frequency
Quarterly
Key facts about DGICA's dividend
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, Donegal Group Inc. (DGICA) has a forward dividend yield of 4.12%, based on an annual dividend of $0.77 per share and a share price of $18.68.
- As of Oct 18, 2026, DGICA's dividend safety grade from SmarterDividends is A (96 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, Donegal Group Inc. (DGICA) has raised its dividend for 22 consecutive years as of Oct 18, 2026.
- DGICA has never cut its regular dividend in the payment history SmarterDividends has on record.
- DGICA's next ex-dividend date is Nov 2, 2026, with payment on Nov 16, 2026. Shares must be owned before that date to receive the dividend.
- As of Oct 18, 2026, DGICA pays out 39% of its trailing 12-month earnings as dividends (its payout ratio).
- DGICA's dividend has grown at an average rate of 3.9% a year over the past five years.
- As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for DGICA is $12.30 per share, 34% below the $18.68 share price, so DGICA screens as overvalued.
- Donegal Group Inc. (DGICA) pays its dividend quarterly, 4 times a year.
- Donegal Group Inc. (DGICA) has raised its regular dividend 23 times and cut it 0 times across the 93 payments on record since 2003. Its most recent change was a 5.5% increase to $0.193 per share, going ex-dividend on May 1, 2026.
Cite this page
SmarterDividends, "DGICA Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/DGICA
Summary
As of Oct 18, 2026, Donegal Group Inc. (DGICA) yields 4.12% ($0.77 a year per share), has a dividend safety grade of A (96/100) and has 22 consecutive years of dividend increases on record.
Is DGICA a good dividend stock?
YesDonegal Group Inc. (DGICA) pays a quarterly dividend yielding 4.12% ($0.77/yr), with 22 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 22 consecutive years of dividend growth
- Never cut its dividend on record
- Comfortable payout ratio (39%)
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 4.12%
- Payout Ratio
- 39%
- Annual Dividend
- $0.77
- 5-Yr Avg Growth
- 3.9%
- Ex-Dividend Date
- Nov 2, 2026
- Years of Growth
- 22
- Frequency
- quarterly
- Beta
- -0.05
- Market Cap
- $692.1M
- P/E Ratio
- 9.7
- 5-Yr Total Return
- 37%
- 52-Week Range
- $16.11 – $21.06
- Dividend Safety
- A · 96/100
- Ever Cut?
- No
DGICA dividend raises and cuts
Donegal Group Inc. (DGICA) has raised its regular dividend 23 times and cut it 0 times across the 93 payments on record since 2003. Its most recent change was a 5.5% increase to $0.193 per share, going ex-dividend on May 1, 2026.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| May 1, 2026 | Raise | $0.183 → $0.193 | +5.5% |
| May 1, 2025 | Raise | $0.173 → $0.183 | +5.8% |
| May 7, 2024 | Raise | $0.170 → $0.173 | +1.8% |
| Apr 28, 2023 | Raise | $0.165 → $0.170 | +3.0% |
| Apr 29, 2022 | Raise | $0.160 → $0.165 | +3.1% |
| Apr 30, 2021 | Raise | $0.150 → $0.160 | +6.7% |
| Apr 30, 2020 | Raise | $0.145 → $0.150 | +3.4% |
| Apr 30, 2019 | Raise | $0.143 → $0.145 | +1.4% |
| Apr 30, 2018 | Raise | $0.140 → $0.143 | +2.1% |
| Apr 27, 2017 | Raise | $0.138 → $0.140 | +1.4% |
| Apr 28, 2016 | Raise | $0.135 → $0.138 | +2.2% |
| Apr 29, 2015 | Raise | $0.132 → $0.135 | +2.3% |
Show all 23 changes since 2004
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Apr 29, 2014 | Raise | $0.128 → $0.132 | +3.1% |
| Apr 29, 2013 | Raise | $0.122 → $0.128 | +4.9% |
| Apr 27, 2012 | Raise | $0.120 → $0.123 | +2.5% |
| Apr 28, 2011 | Raise | $0.115 → $0.120 | +4.3% |
| Apr 29, 2010 | Raise | $0.113 → $0.115 | +1.8% |
| Apr 29, 2009 | Raise | $0.105 → $0.113 | +7.6% |
| Apr 29, 2008 | Raise | $0.0900 → $0.105 | +16.7% |
| Apr 27, 2007 | Raise | $0.0830 → $0.0900 | +8.4% |
| Apr 27, 2006 | Raise | $0.0750 → $0.0830 | +10.7% |
| Apr 28, 2005 | Raise | $0.0675 → $0.0750 | +11.1% |
| Apr 28, 2004 | Raise | $0.0619 → $0.0675 | +9.1% |
Frequently Asked Questions
Is DGICA a good dividend stock?
Yes. Donegal Group Inc. (DGICA) pays a quarterly dividend yielding 4.12% ($0.77/yr), with 22 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is DGICA undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, DGICA's fair value is about $12.30 versus a $18.68 share price — so it looks overvalued (-34% vs. fair value).
Is DGICA's dividend safe?
DGICA has a dividend-safety grade of A (96/100), based on its payout coverage, free-cash-flow, 22-year growth streak, a clean no-cut history, debt and yield-versus-history.
What is DGICA's fair value?
Our blended fair-value estimate for DGICA is about $12.30 per share, about 34% below the current $18.68 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is DGICA a buy, hold, or sell?
We don't issue formal ratings, but on the data DGICA screens as "yes" and overvalued. Donegal Group Inc. (DGICA) pays a quarterly dividend yielding 4.12% ($0.77/yr), with 22 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will DGICA cut its dividend?
DGICA earns a dividend-safety grade of A (96/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does DGICA pay a dividend?
Yes. Donegal Group Inc. pays a quarterly dividend of about $0.77 per share annually, a forward yield of roughly 4.12%.
What is DGICA's dividend yield?
As of Oct 18, 2026, DGICA's forward dividend yield is 4.12%, based on a $0.77 annual dividend and a $18.68 share price.
What is DGICA's dividend per share?
As of Oct 18, 2026, DGICA pays $0.77 per share per year, distributed on a quarterly basis.
What is DGICA's dividend payout ratio?
As of Oct 18, 2026, DGICA's payout ratio is 39% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has DGICA grown its dividend?
As of Oct 18, 2026, DGICA has increased its dividend for 22 consecutive years.
When is the next DGICA ex-dividend date?
As of Oct 18, 2026, the next ex-dividend date on record for DGICA is Nov 2, 2026.
DGICA Price — Last 12 Months
Daily close
Price Return
1 Year
-7%
3 Years
+31%
5 Years
+37%
52-Week Range
$16.11 – $21.06
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is DGICA worth?
Overvaluedmedium confidenceOur blended fair-value estimate for Donegal Group Inc. is $12.30 per share, versus a market price of $18.68. That implies 34% of downside.
Fair Value
$12.30
Current Price
$18.68
Downside
-34%
Margin of Safety
-52%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
Assumptions: 9.3% discount rate (CAPM), 0.0% growth for five years fading to 2.5% over the next five, $1.92 EPS, $0.77 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
DGICA Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full DGICA dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 31, 2026 | Aug 14, 2026 | $0.1930 | regular |
| May 1, 2026 | May 15, 2026 | $0.1930 | regular |
| Feb 3, 2026 | Feb 17, 2026 | $0.1830 | regular |
| Nov 3, 2025 | Nov 17, 2025 | $0.1830 | regular |
| Aug 1, 2025 | Aug 15, 2025 | $0.1830 | regular |
| May 1, 2025 | May 15, 2025 | $0.1830 | regular |
| Feb 4, 2025 | Feb 18, 2025 | $0.1730 | regular |
| Nov 1, 2024 | Nov 15, 2024 | $0.1730 | regular |
| Aug 1, 2024 | Aug 15, 2024 | $0.1730 | regular |
| May 7, 2024 | May 22, 2024 | $0.1730 | regular |
| Jan 31, 2024 | Feb 15, 2024 | $0.1700 | regular |
| Oct 31, 2023 | Nov 15, 2023 | $0.1700 | regular |
| Jul 31, 2023 | Aug 15, 2023 | $0.1700 | regular |
| Apr 28, 2023 | May 15, 2023 | $0.1700 | regular |
Income Calculator
At $0.77 / yr per share
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