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Horace Mann Educators Corporation (NYSE:HMN) today announced that its Board of Directors approved a 3.3% increase in the quarterly cash dividend to $0.31 per share. This represents an indicated annual dividend of $1.24 per share.
"Horace Mann is committed to driving long-term shareholder value creation," said Marita Zuraitis, Horace Mann President and CEO. "This is the 13th consecutive year the Board has increased the annual shareholder cash dividend. In addition, we continue to opportunistically repurchase shares, buying almost 40,000 shares in February at a total cost of approximately $1.5 million.
"We will continue to drive shareholder value through execution of our strategic initiatives. As previously disclosed, we expect 2021 core earnings per share in the range of $3.00 to $3.20," added Zuraitis. "Our primary use of the capital we generate will continue to be to support business growth at returns that meet or exceed our return on equity targets."
The quarterly dividend is payable on March 31, 2021, to shareholders of record as of March 17, 2021.
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 Annual Report on Form 10-K for the period ended December 31, 2020 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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Heather J. Wietzel
Vice President, Investor Relations