Principal Financial Group, Inc. Announces Preferred Dividend
October 23 2014 - 3:10PM
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 Dec. 30, 2014, to preferred stockholders
of record as of Dec. 11, 2014.
Forward looking and cautionary statements
This 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 June
30, 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 $513.5 billion in assets under management2 and serves
some 19.5 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 Sept. 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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