Press release
Principal Financial Group® Announces Second Quarter 2021 Results
Company also announces increase to common stock dividend Company Highlights Second quarter 2021 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\nCompany Highlights\n\n\nSecond quarter 2021 net income attributable to Principal Financial Group®, Inc. (PFG) of $361.8 million, or $1.32 per diluted share.\n\n\nSecond quarter 2021 non-GAAP operating earnings1 of $467.3 million, or $1.70 per diluted share. \n\n\nAssets under management (AUM) of $990.4 billion. \n\n\nCompany declared third quarter 2021 common stock dividend of $0.63 per share; a 7 cent, or 13%, increase over third quarter 2020.\n\n\n \n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Financial Group® (Nasdaq: PFG) announced results for second quarter 2021.\n\n\nNet income attributable to PFG for second quarter 2021 of $361.8 million, compared to $398.3 million for second quarter 2020. Net income per diluted share of $1.32 for second quarter 2021 compared to $1.45 in the prior year quarter.\n\n\nNon-GAAP operating earnings for second quarter 2021 of $467.3 million, compared to $402.7 million for second quarter 2020. Non-GAAP operating earnings per diluted share of $1.70 for second quarter 2021 compared to $1.46 for second quarter 2020.\n\n\nQuarterly common stock dividend of $0.63 per share for third quarter 2021 was authorized by the company’s Board of Directors, bringing the trailing twelve-month dividend to $2.36 per share, a 6% increase compared to the prior year trailing twelve-month period. The dividend will be payable on Sept. 24, 2021, to shareholders of record as of Sept. 1, 2021.\n\n\n“Second quarter results were strong, driven by continued execution of our long-term strategy and improving macroeconomic conditions across many of our businesses,” said Dan Houston, chairman, president, and CEO of Principal®. “We delivered $467 million of non-GAAP operating earnings in the second quarter, totaling $891 million year-to-date, which is 23% percent higher than the first half of 2020. Second quarter results were led by strong performance in our global asset management business, the successful integration of the retirement business from the Institutional Retirement and Trust acquisition, and encouraging fundamentals in many of our businesses as COVID-19 impacts continue to lessen.”\n\n“During our 2021 investor day, we announced changes to our business portfolio and capital management strategy to drive future growth, reduce capital intensity, sharpen ...