FBL Financial Group Increases Quarterly Cash Dividend, Declares Special Cash Dividend, and Names New Director
07 March 2015 - 1:00AM
Business Wire
FBL Financial Group, Inc. (NYSE: FFG) today announces a
14 percent increase in its quarterly cash dividend to $0.40 per
share, a special cash dividend of $2.00 per share and a new Class B
director.
“FBL Financial Group is committed to returning cash to
shareholders given our strong and consistent operating results and
ample excess capital,” said James P. Brannen, Chief Executive
Officer of FBL Financial Group, Inc. “The payment of a special cash
dividend and increasing the regular quarterly cash dividend
demonstrate our confidence in Farm Bureau Life Insurance Company’s
strong capital position and financial strength.”
Quarterly Dividend Increase to $0.40 Per Share. FBL
Financial Group’s Board of Directors has declared a quarterly cash
dividend of $0.40 per share, payable on March 31, 2015 to Class A
and Class B common stockholders of record as of March 16, 2015.
This represents a 14 percent increase from the prior quarterly
dividend of $0.35 per share paid in December 2014, and reflects an
annual indicated dividend rate of $1.60 per share. Based on this
dividend rate, FBL’s indicated dividend yield is currently 2.8
percent.
Special Cash Dividend of $2.00 Per Share. FBL Financial
Group’s Board of Directors has declared a special cash dividend of
$2.00 per share, payable on March 26, 2015 to Class A and Class B
common stockholders of record as of March 16, 2015. The total
amount of the special cash dividend payment is estimated to be
approximately $49 million.
New Class B Director Named. Richard Felts has been named
to FBL Financial Group’s Board of Directors as a Class B Director,
effective March 5, 2015. Felts is President of the Kansas Farm
Bureau. Felts was elected to the Kansas Farm Bureau Board in 2001
and prior to becoming President, served as Vice President of the
Kansas Farm Bureau from 2011 to 2014.
FBL Financial Group is a holding company whose purpose is to
protect livelihoods and futures. Its primary operating subsidiary,
Farm Bureau Life Insurance Company, underwrites and markets a broad
range of life insurance and annuities to individuals and
businesses, which are distributed by multiline exclusive Farm
Bureau agents. In addition, FBL Financial Group manages all aspects
of two Farm Bureau affiliated property-casualty insurance companies
for a management fee. FBL Financial Group, headquartered in West
Des Moines, Iowa, is traded on the New York Stock Exchange under
the symbol FFG. For more information, please visit
www.fblfinancial.com.
FBL Financial Group, Inc.Kathleen Till Stange,
515-226-6780Vice President Corp. & Investor
RelationsKathleen.TillStange@FBLFinancial.com
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