Erie Indemnity Q2 net income $174.7M, EPS $3.34; quarterly dividend raised to $1.365

ERIE INDEMNITY CO

Q2 net income $174.7M ($3.34 diluted EPS) up from $163.9M ($3.13) YoY; H1 $313.1M ($5.99) vs $288.5M ($5.52).
Management fee revenue from policy issuance and renewal services grew 8.3% to $823.9M in Q2.
Commission expense increased $43.5M in Q2 due to premium growth and agent incentive compensation.
Quarterly dividend raised to $1.365 per share from $1.275; payable Oct 21, record Oct 6.

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