Principal Financial Group, Inc. Announces Preferred Dividend
July 24 2014 - 4:10PM
Business Wire
Principal Financial Group, Inc. (NYSE: PFG) announced today that
its board of directors declared a cash dividend of $1.39075 per
share on its 5.563% Series A non–cumulative perpetual preferred
stock and a cash dividend of $0.407375 per share on its 6.518%
Series B non-cumulative perpetual preferred stock. The preferred
dividends are payable on Sept. 30, 2014, to preferred stockholders
of record as of Sept. 11, 2014.
Forward looking and cautionary statementsThis press
release contains forward-looking statements, including, without
limitation, statements as to operating earnings, net income
available to common stockholders, net cash flows, realized and
unrealized gains and losses, capital and liquidity positions, sales
and earnings trends, and management's beliefs, expectations, goals
and opinions. The company does not undertake to update these
statements, which are based on a number of assumptions concerning
future conditions that may ultimately prove to be inaccurate.
Future events and their effects on the company may not be those
anticipated, and actual results may differ materially from the
results anticipated in these forward-looking statements. The risks,
uncertainties and factors that could cause or contribute to such
material differences are discussed in the company's annual report
on Form 10-K for the year ended Dec. 31, 2013, and in the company’s
quarterly report on Form 10-Q for the quarter ended March 31, 2014,
filed by the company with the Securities and Exchange Commission,
as updated or supplemented from time to time in subsequent filings.
These risks and uncertainties include, without limitation: adverse
capital and credit market conditions may significantly affect the
company’s ability to meet liquidity needs, access to capital and
cost of capital; conditions in the global capital markets and the
economy generally; continued volatility or declines in the equity,
bond or real estate markets; changes in interest rates or credit
spreads; the company’s investment portfolio is subject to several
risks that may diminish the value of its invested assets and the
investment returns credited to customers; the company’s valuation
of securities may include methodologies, estimations and
assumptions that are subject to differing interpretations; the
determination of the amount of allowances and impairments taken on
the company’s investments requires estimations and assumptions that
are subject to differing interpretations; gross unrealized losses
may be realized or result in future impairments; competition from
companies that may have greater financial resources, broader arrays
of products, higher ratings and stronger financial performance; a
downgrade in the company’s financial strength or credit ratings;
inability to attract and retain sales representatives and develop
new distribution sources; international business risks; the
company’s actual experience could differ significantly from its
pricing and reserving assumptions; the company’s ability to pay
stockholder dividends and meet its obligations may be constrained
by the limitations on dividends or distributions Iowa insurance
laws impose on Principal Life; the pattern of amortizing the
company’s DAC and other actuarial balances on its universal
life-type insurance contracts, participating life insurance
policies and certain investment contracts may change; the company
may need to fund deficiencies in its “Closed Block” assets that
support participating ordinary life insurance policies that had a
dividend scale in force at the time of Principal Life’s 1998
conversion into a stock life insurance company; the company’s
reinsurers could default on their obligations or increase their
rates; risks arising from acquisitions of businesses; changes in
laws, regulations or accounting standards; a computer system
failure or security breach could disrupt the company’s business and
damage its reputation; results of litigation and regulatory
investigations; from time to time the company may become subject to
tax audits, tax litigation or similar proceedings, and as a result
it may owe additional taxes, interest and penalties in amounts that
may be material; fluctuations in foreign currency exchange rates;
and applicable laws and the company’s certificate of incorporation
and by-laws may discourage takeovers and business combinations that
some stockholders might consider in their best interests.
About the Principal Financial GroupThe Principal
Financial Group® (The Principal®)1 is a global investment
management leader offering retirement services, insurance solutions
and asset management. The Principal offers businesses, individuals
and institutional clients a wide range of financial products and
services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded
in 1879 and a member of the FORTUNE 500®, the Principal Financial
Group has $517.9 billion in Assets Under Management2 and serves
some 19.4 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange
under the ticker symbol PFG. For more information, visit
www.principal.com.
1 “The Principal Financial Group” and “The Principal” are
registered service marks of Principal Financial Services, Inc., a
member of the Principal Financial Group.
2 As of June 30, 2014.
Principal Financial Group, Inc.Media contact:Susan Houser,
515-248-2268houser.susan@principal.comorInvestor Relations
contact:John Egan, 515-235-9500egan.john@principal.com
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