This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CNO Financial Group Announces Fourth Quarter 2012 Capital Actions

CARMEL, Ind., Dec. 31, 2012 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today announced that during the fourth quarter of 2012 it repurchased 8,639,215 shares of its common stock for an aggregate purchase price of $80.7 million under its securities repurchase program. The shares were repurchased at an average cost of $9.34 per share and represented 3.8% of the total outstanding shares as of September 30, 2012. Total shares repurchased under the program year-to-date total 21,533,393 shares for an aggregate purchase price of $180.2 million, at an average cost of $8.37 per share.  As of September 30, 2012, CNO had approximately 230 million shares outstanding.  The company currently has repurchase capacity under its securities buyback program of approximately $350 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 securities repurchases (if any) will be based on business and market conditions and other factors.

CNO made a principal prepayment today of $28.4 million in an amount equal to 33% of share repurchases and dividend payments, as required under the terms of its Senior Secured Credit Agreement.  The company made an additional payment of $2.0 million to cover the remaining portion of the scheduled term loan installment.  The next scheduled principal payment under the facility of $12.5 million is due March 31, 2013.  

About CNO

CNO is a holding company.  Our insurance subsidiaries – principally Bankers Life and Casualty Company, Washington National Insurance Company and Colonial Penn Life Insurance Company – serve working American families and seniors by helping them protect against financial adversity and provide for a more secure retirement.  For more information, visit CNO online at www.CNOinc.com.

SOURCE CNO Financial Group, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs