SPRINGFIELD, Ill.--(BUSINESS WIRE)--
Horace Mann Educators Corporation (NYSE:HMN) today announced that its
Board of Directors declared a 1% increase in the quarterly cash dividend
to $0.2875 per share payable on March 29, 2019 to shareholders of record
as of March 18, 2019. This represents an annualized dividend of $1.15
per share.
“Our ability to raise the dividend for the 11th consecutive
year is a testament to Horace Mann’s financial strength,” said President
and Chief Executive Officer Marita Zuraitis. “We are balancing our
commitment to creating long-term shareholder value with the need for
maximum capital flexibility for our pending acquisition of National
Teachers Associates (NTA), which is anticipated to close in mid-2019. We
are excited about the potential for accelerated shareholder value
creation as a result of this transaction.”
Horace Mann announced in December that it has signed a definitive
agreement to acquire NTA, a provider of supplemental insurance products
to the education market for nearly 50 years. The combined company will
have an enhanced product set, additional points of distribution and
expanded scale, and is expected to deliver immediate earnings and return
on equity accretion with additional long-term upside from cross-sell
opportunities.
In addition, on January 2, 2019, Horace Mann closed on its acquisition
of Benefit Consultants Group (BCG), which expands Horace Mann’s
strategic capabilities in the retirement market.
About Horace Mann
Horace Mann is the largest financial services company focused on
providing America's educators and school employees with insurance and
retirement solutions. Founded by Educators for Educators® in
1945, the company is headquartered in Springfield, Ill. For more
information, visit horacemann.com.
Safe Harbor Statement
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, 2018 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190306005777/en/
Heather J. Wietzel
Vice President, Investor Relations
217-788-5144
investorrelations@horacemann.com
Source: Horace Mann Educators Corporation