Erie Indemnity: FY net income $297.9M ($5.69/diluted), Q4 $55M ($1.05); $1.11 dividend

ERIE INDEMNITY CO

FY 2021 net income $297.9M ($5.69 diluted EPS) vs $293.3M ($5.61) in 2020, up 1.6%.
Q4 2021 net income $55.0M ($1.05 diluted EPS) vs $62.8M ($1.20) in Q4 2020, down 12.4%.
Operating income before taxes decreased 5.9% to $318.1M; management fee revenue from policy issuance up 3.9% to $1.91B.
Investment income before taxes more than doubled to $67.3M, driven by $31.7M limited partnership earnings vs ($0.6M) loss in 2020.
Board declared quarterly dividend of $1.11 per Class A share, payable April 20, 2022, record date April 5, 2022.

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