Press release
Principal Announces Fourth Quarter and Full Year 2019 Results
Company also announces increase to common stock dividend Company Highlights Fourth quarter 2019 net income attributable to Principal Financial Group, Inc.
About this update from Principal Financial Group Inc
[{"type":"text","content":"\nCompany also announces increase to common stock dividend \n\n\nCompany Highlights\n\n\n\nFourth quarter 2019 net income attributable to Principal Financial Group, Inc. (PFG) of $300.9 million, or $1.07 per diluted share. Full year 2019 net income attributable to Principal Financial Group, Inc. of $1,394.2 million, or $4.96 per diluted share\n\n\nFourth quarter 2019 non-GAAP operating earnings1 of $396.4 million, or $1.41 per diluted share. Full year 2019 non-GAAP operating earnings of $1,569.1 million, or $5.58 per diluted share\n\n\nRecord assets under management (AUM) of $735.3 billion \n\n\nCompany declares first quarter 2020 common stock dividend of $0.56 per share; a 4% increase over first quarter 2019\n\n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Financial Group® (Nasdaq: PFG) today announced results for fourth quarter and the full year of 2019.\n\n\n\nNet income attributable to PFG for fourth quarter 2019 of $300.9 million, compared to $236.5 million for fourth quarter 2018. Net income per diluted share of $1.07 for fourth quarter 2019 compared to $0.83 in the prior year quarter. For the 12 months ending Dec. 31, 2019, net income attributable to PFG of $1,394.2 million, or $4.96 per diluted share, compared to $1,546.5 million, or $5.36 per diluted share, for the 12 months ending Dec. 31, 2018.\n\n\nNon-GAAP operating earnings for fourth quarter 2019 of $396.4 million, compared to $316.1 million for fourth quarter 2018. Non-GAAP operating earnings per diluted share of $1.41 for fourth quarter 2019 compared to $1.11 for fourth quarter 2018. For the 12 months ending Dec. 31, 2019, non-GAAP operating earnings of $1,569.1 million, or $5.58 per diluted share, compared to $1,597.5 million, or $5.53 per diluted share, for the 12 months ending Dec. 31, 2018.\n\n\nQuarterly common stock dividend of $0.56 per share for first quarter 2020 was authorized by the company’s Board of Directors, bringing the trailing twelve-month dividend to $2.20 per share, a 3% increase compared to the prior year trailing twelve-month period. The dividend will be payable on Mar. 27, 2020, to shareholders of record as of Mar. 2, 2020.\n\n\n\n“I’m pleased with Principal’s results for the quarter and full year,” said Dan Houston, chairman, president and CEO. “We finished strong with fourth quarter non-GAAP operating earnings of $396 million, which ...