Horace Mann Declares Regular Quarterly Dividend
03 Septembre 2019 - 10:15PM
Business Wire
Comments on long-term outlook
Horace Mann Educators Corporation (NYSE:HMN) today announced
that the Board of Directors declared a regular quarterly cash
dividend of $0.2875 per share payable on Sept. 30, 2019, to
shareholders of record as of Sept. 16, 2019.
“Horace Mann is better equipped than ever before to meet the
financial needs of the education market, advance our long-term
growth strategies and accelerate shareholder value creation,” said
President and CEO Marita Zuraitis, “Reinsuring our legacy annuity
block in June released capital that we used to acquire National
Teachers Associates. The reinsurance transaction also significantly
reduced future interest-spread risk. Completing the NTA acquisition
in July diversified our business mix and redeployed capital into
higher-margin products.
“The end result is a larger, more diverse company that is poised
for strong earnings growth and a return to double-digit return on
equity,” Zuraitis noted, “The addition of NTA should add several
points to ROE over the next few years, beginning with one point of
accretion in its first full year as part of Horace Mann. In
addition, cross-selling our combined product lines and optimizing
their investment portfolio should add another point by 2021.
“At the upcoming KBW Insurance Conference, we also will be
talking about implementation of expense synergies and efficiencies
across our entire business that should add at least an additional
point to ROE, even before the accretive benefits of business
growth. As these contributions build from our 2019 ROE guidance, we
see a clear path to a double digit return,” Zuraitis concluded.
Horace Mann Educators Corporation will present at the KBW
Insurance Conference in New York City on Thursday, September 5,
2019, at 10:50 a.m. ET. A link to the live audio webcast of the
presentation will be available on the Events page of
investors.horacemann.com. A webcast replay of the presentation will
be available later that day at the same location.
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 Quarterly Report on Form 10-Q for the period ended June
30, 2019 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190903005823/en/
Heather J. Wietzel Vice President, Investor Relations
217-788-5144 investorrelations@horacemann.com
Horace Mann Educators (NYSE:HMN)
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