CARMEL, Ind., May 10, 2017 /PRNewswire/ -- CNO Financial Group,
Inc. (NYSE: CNO) announced that its board of directors has approved
a 13% increase in its quarterly dividend. The board declared
a quarterly cash dividend of $0.09
per share on the company's common shares, payable June 23, 2017, to shareholders of record at the
close of business on June 9,
2017.
The company also announced today that its board of directors has
approved an additional $300 million
to repurchase the company's outstanding common stock. As of
March 31, 2017, CNO had repurchased
$43.0 million of common stock in 2017
and had remaining repurchase capacity under the buyback program of
approximately $210 million. The
repurchase program is intended to be implemented through purchases
made from time to time in the open market, through private
transactions or by a tender offer, in accordance with Securities
and Exchange Commission requirements. The amount and timing
of the repurchases (if any) will be based on business and market
conditions and other factors.
In addition, CNO announced that at the company's annual meeting
earlier today, its shareholders:
- Elected nine directors (Edward
Bonach, Ellyn Brown,
Stephen David, Robert Greving, Mary
(Nina) Henderson, Charles
Jacklin, Daniel Maurer,
Neal Schneider and Frederick Sievert) to serve terms expiring at
next year's annual meeting.
- Approved the Amended and Restated Long-Term Incentive
Plan.
- Ratified the appointment of PricewaterhouseCoopers LLP as the
company's independent registered public accounting firm for
2017.
- On a non-binding advisory basis, voted in favor of the
compensation paid to the company's named executive officers as
disclosed in the proxy statement for the annual meeting.
- On a non-binding advisory basis, voted in favor of an annual
frequency for future advisory votes on compensation paid to named
executive officers, as recommended by the company.
About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) is a holding company.
Our insurance subsidiaries – principally Bankers Life and Casualty
Company, Colonial Penn Life Insurance Company and Washington
National Insurance Company – primarily serve middle-income
pre-retiree and retired Americans by helping them protect against
financial adversity and provide for a more secure retirement.
For more information, visit CNO online at www.CNOinc.com.
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SOURCE CNO Financial Group, Inc.