Principal Financial Group, Inc. (NYSE: PFG) today announced results for fourth quarter and full year 2012. The company reported operating earnings of $243.9 million for fourth quarter 2012, compared to $201.8 million for fourth quarter 2011. Operating earnings per diluted share (EPS) were $0.82 for fourth quarter 2012, compared to $0.66 for fourth quarter 2011. The company reported net income available to common stockholders of $218.6 million, or $0.74 per diluted share for fourth quarter 2012, compared to $148.5 million, or $0.48 per diluted share for fourth quarter 2011, reflecting a strong increase in operating earnings and improvement in credit-related losses. Operating revenues for fourth quarter 2012 were $2,293.1 million compared to $2,103.3 million for the same period last year.
The company reported operating earnings of $808.0 million for the twelve months ended Dec. 31, 2012 (which were negatively impacted by a $90.7 million charge from the third quarter actuarial assumption review, predominantly due to the lower interest rates), compared to $843.8 million for the twelve months ended Dec. 31, 2011. Operating earnings per diluted share (EPS) were $2.69 for the twelve months ended Dec. 31, 2012, compared to $2.66 for the twelve months ended Dec. 31, 2011. (Adjusted 2012 EPS of $2.99 2 is up 12 percent over reported 2011 EPS.) The company reported net income available to common stockholders of $772.9 million, or $2.57 per diluted share for the twelve months ended Dec. 31, 2012, compared to $619.7 million, or $1.95 per diluted share for the twelve months ended Dec. 31, 2011. Operating revenues for the year 2012 were $9,175.4 million compared to $8,281.0 million for the same period last year.
The company also announced today that its board of directors has declared a quarterly dividend of $0.23 per share of common stock, an increase of 10 percent over the fourth quarter 2012 dividend. The dividend will be payable on March 29, 2013 to shareholders of record as of March 11, 2013.
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