Erie Indemnity dividend: cash, history and yield
MyStockButler's October 2026 analysis: Erie Indemnity’s dividends rose from $192.8 million to $254.3 million over five years ending in 2025, and in 2025 consumed 44.5% of free cash flow. The five-year cash record shows the dividend was covered by free cash flow, with cash left to retain.
How much does Erie Indemnity pay its shareholders?
Over the five years ending in 2025, free cash flow rose from $254.0 million to $571.0 million. Dividends rose from $192.8 million to $254.3 million. In 2025, dividends consumed 44.5% of free cash flow, compared with 75.9% in 2021, leaving more cash to retain.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 4,067,258 | 3,795,115 | 3,268,940 | 2,840,124 | 2,633,977 |
| EPS, diluted | 10.69 | 11.48 | 8.53 | 5.71 | 5.69 |
| Dividend per share | 5.56 | 5.19 | 4.85 | 4.52 | 4.22 |
What this means. Gross profit equals operating income here because the report subtracts administrative costs in its operating costs, unlike the usual definition of gross profit.
How much would Erie Indemnity's dividend pay you?
$10,000 invested in Erie Indemnity at its 2.2% dividend yield (our report of October 31, 2026) pays $220.00 in the first year, before tax. If its dividend per share keeps changing 7.1% a year, as it did from 2021 to 2025, and the dividends are reinvested, year 10 pays $530.75, with $3,512.78 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Is Erie Indemnity’s dividend covered by its cash?
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 570,965 | 486,404 | 288,558 | 298,948 | 253,994 |
| − Dividends paid | 254,275 | 237,508 | 221,675 | 206,772 | 192,801 |
| − Share buybacks | 0 | 0 | 0 | 0 | 0 |
| = Free cash flow not paid out | 316,690 | 248,896 | 66,883 | 92,176 | 61,193 |
| − Acquisitions | 0 | 0 | 0 | 0 | 0 |
What this means. The cash and debt figures include restricted cash and money tied to lending securities, so the reported net cash is not all freely available to the company.
What could change Erie Indemnity’s dividend?
Dividends begin with the $5.85 annual run rate implied by the latest quarterly payment. The base case increases dividends from $6.27 to $7.19, matching the recent roughly 7% annual increase. The bear case holds them at $5.85 because weaker retention and service-cost pressure could pause increases. The bull case rises from $6.38 to $7.58 on stronger cash generation and 9% annual growth.
The base case gains support if the 25% fee rate continues, premium growth remains modest and dividends keep rising without buybacks. The next annual dividend decision, expected in December, is an early test of that stability.
What is Erie Indemnity’s dividend yield against its share price?
By October 2029, the bear case reaches $154.31 and the bull case reaches $385.71, against today’s $261.39. The probabilities are 30% bear, 55% base and 15% bull, so stability is the central expectation rather than strong appreciation or collapse.
| Today (Oct 31, 2026) | |
|---|---|
| Share price | 261.39 |
| Market value (calculated) | 13,668,049 |
| P/E, last 12 months (calculated) | 23.7x |
| Free cash flow yield (calculated) | 4.2% |
| Dividend yield (calculated) | 2.2% |