Horace Mann Increases Quarterly Dividend by 18%
SPRINGFIELD, Ill., March 6, 2014 /PRNewswire/ -- Horace Mann Educators Corporation (NYSE: HMN) today announced that its Board of Directors has approved an 18% increase in the quarterly cash dividend, which will increase to $0.23 per share. This represents an annualized dividend of $0.92 per share and follows a 22% increase declared in March 2013.
"Horace Mann has a strong track record of creating value for our shareholders, through sustainable growth in book value per share, as well as returning capital to shareholders through regular dividend increases and opportunistic share repurchases. Today's actions to increase the dividend for the sixth consecutive year reflect our strong operating cash flows and solid financial position. 2013's operating results are a clear illustration of the strength of our business model, and we are confident we have the right initiatives in place to further increase profitability while also reaching more of the Nation's K - 12 educators," stated Marita Zuraitis, President and Chief Executive Officer.
The quarterly dividend is payable on March 31, 2014 to shareholders of record as of March 17, 2014.
Horace Mann -- the largest national multiline insurance company focusing on educators' financial needs -- provides auto and homeowners insurance, retirement annuities, life insurance and other financial solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Ill. For more information, visit www.horacemann.com.
Statements included in this news release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties. Horace Mann is not under any obligation to (and expressly disclaims any such obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to the company's Annual Report on Form 10-K for the period ended December 31, 2013 and the company's past and future filings and reports filed with the Securities and Exchange Commission for information concerning the important factors that could cause actual results to differ materially from those in forward-looking statements.
SOURCE Horace Mann Educators Corporation