SPRINGFIELD, Ill., Dec. 7, 2011 /PRNewswire/ -- Horace Mann
Educators Corporation (NYSE:HMN) Board of Directors today announced
a quarterly dividend of 13 cents per
share payable on December 30, 2011 to
shareholders of record as of December
19, 2011. The quarterly dividend amount represents an
increase of 18 percent from the third quarter 2011 dividend.
The company's Board of Directors also authorized a new share
repurchase program allowing repurchases of up to $50 million. The share repurchase program
authorizes the opportunistic repurchase of common shares in open
market or privately negotiated transactions, from time to time,
depending on market conditions. The share repurchase program
does not have an expiration date and may be limited or terminated
at any time without notice.
"The Board's decision at this time to further increase the
dividend and to authorize a share repurchase program reflects
Horace Mann's financial strength and
strong cash flow and acknowledges a recent share price that we
believe significantly understates the company's current value and
future earnings power," said Peter H.
Heckman, President and Chief Executive Officer.
Horace Mann -- the largest
national multiline insurance company focusing on educators'
financial needs -- provides auto and homeowners insurance,
retirement annuities, life insurance and other financial
solutions. Founded by Educators for
Educators® in 1945, the company is headquartered in
Springfield, Ill. For more
information, visit www.horacemann.com.
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 Quarterly Report
on Form 10-Q for the period ended September
30, 2011 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.
SOURCE Horace Mann Educators Corporation