Horace Mann Increases Quarterly Dividend by More Than 3%

Rhea-AI Summary

Horace Mann Educators Corporation (NYSE:HMN) has announced a 3.3% increase in its quarterly cash dividend, raising it to $0.31 per share, with an indicated annual dividend of $1.24 per share. This marks the 13th consecutive year of dividend increases. The dividend will be payable on March 31, 2021, to shareholders of record as of March 17, 2021. The company continues to repurchase shares, having acquired almost 40,000 shares in February for $1.5 million. Core earnings per share for 2021 are projected between $3.00 and $3.20.

Positive

• Dividend increased by 3.3% to $0.31 per share.
• Indicated annual dividend now stands at $1.24 per share.
• 13th consecutive year of dividend increases.
• Share buyback program with 40,000 shares bought for $1.5 million.
• Projected 2021 core earnings per share between $3.00 - $3.20.

Negative

• None.

Horace Mann Educators Corporation (NYSE:HMN) today announced that its Board of Directors approved a 3.3% increase in the quarterly cash dividend to $0.31 per share. This represents an indicated annual dividend of $1.24 per share.

“Horace Mann is committed to driving long-term shareholder value creation,” said Marita Zuraitis, Horace Mann President and CEO. “This is the 13^th consecutive year the Board has increased the annual shareholder cash dividend. In addition, we continue to opportunistically repurchase shares, buying almost 40,000 shares in February at a total cost of approximately $1.5 million.

“We will continue to drive shareholder value through execution of our strategic initiatives. As previously disclosed, we expect 2021 core earnings per share in the range of $3.00 to $3.20,” added Zuraitis. “Our primary use of the capital we generate will continue to be to support business growth at returns that meet or exceed our return on equity targets.”

The quarterly dividend is payable on March 31, 2021, to shareholders of record as of March 17, 2021.

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, 2020 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/20210304005952/en/

FAQ

What is the new quarterly dividend for HMN?

Horace Mann's new quarterly dividend is $0.31 per share.

When is the dividend payable for HMN?

The dividend is payable on March 31, 2021, to shareholders of record as of March 17, 2021.

How many consecutive years has HMN increased its dividend?

HMN has increased its dividend for 13 consecutive years.

What is HMN's projected core earnings per share for 2021?

HMN's projected core earnings per share for 2021 is between $3.00 and $3.20.