Principal Financial Group, Inc. (NYSE: PFG) today announced results for fourth quarter and full year 2013 and an increase in the common stock dividend.
- Operating earnings increased 19 percent to $286.0 million for fourth quarter 2013, compared to $240.3 million for fourth quarter 2012. Operating earnings per diluted share (EPS) increased 19 percent to $0.96 for fourth quarter 2013, compared to $0.81 for fourth quarter 2012. For the twelve months ending Dec. 31, 2013, operating earnings increased 31 percent to $1,059.9 million, compared to $808.8 million for the twelve months ending Dec. 31, 2012. Full year 2013 operating earnings EPS increased 32 percent to $3.55, compared to $2.69 for full year 2012.
- Net income available to common stockholders for fourth quarter 2013 increased 9 percent to $233.4 million, or $0.78 per diluted share, compared to $214.9 million, or $0.72 per diluted share for fourth quarter 2012. For full year 2013, net income available to common shareholders increased 14 percent to $879.7 million, or $2.95 per diluted share, compared to $773.6 million or $2.58 per diluted share for the twelve months ending Dec. 31, 2012.
- Operating revenues for fourth quarter 2013 were $2,741.6 million, an increase of 20 percent, compared to $2,293.1 million for fourth quarter 2012. Operating revenues for the full-year 2013 increased 5 percent to $9,607.4 million compared to $9,175.4 million for the same period last year.
- Quarterly dividend declared for first quarter 2014 by its board of directors of $0.28 per share of common stock, an 8 percent increase over fourth quarter 2013. The dividend will be payable on March 28, 2014 to shareholders of record as of March 10, 2014.
“We ended 2013 with very strong results, posting both record total company operating earnings for the year and record assets under management. These results were particularly strong in light of continued macroeconomic volatility, demonstrating the strength of our global investment management strategy and our ability to focus and execute,” said Larry D. Zimpleman, chairman, president and chief executive officer. “Looking ahead, we’ll continue to take advantage of opportunities created by changing global demographics by having the right strategy in the right markets at the right time to generate growth for years to come.”
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