Press release
Principal® Announces Second Quarter 2020 Results
Company also announces common stock dividend Company Highlights Second quarter 2020 net income attributable to Principal Financial Group®, Inc. (PFG) of
About this update from Principal Financial Group Inc
[{"type":"text","content":"\nCompany also announces common stock dividend\n\n\nCompany Highlights\n\n\n\nSecond quarter 2020 net income attributable to Principal Financial Group®, Inc. (PFG) of $398.3 million, or $1.45 per diluted share\n\n\nSecond quarter 2020 non-GAAP operating earnings1 of $402.7 million, or $1.46 per diluted share\n\n\nAssets under management (AUM) of $701.8 billion \n\n\nCompany declares third quarter 2020 common stock dividend of $0.56 per share; a 2% increase over third quarter 2019\n\n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Financial Group® (Nasdaq: PFG) announced results for second quarter 2020.\n\n\nSecond quarter 2020 financial results\n\n\n\nNet income attributable to PFG for second quarter 2020 of $398.3 million, compared to $386.3 million for second quarter 2019. Net income per diluted share of $1.45 for second quarter 2020 compared to $1.37 in the prior year quarter.\n\n\nNon-GAAP operating earnings for second quarter 2020 of $402.7 million, compared to $427.1 million for second quarter 2019. Non-GAAP operating earnings per diluted share of $1.46 for second quarter 2020 compared to $1.52 for second quarter 2019.\n\n\nQuarterly common stock dividend of $0.56 per share for third quarter 2020 was authorized by the company’s Board of Directors, bringing the trailing twelve-month dividend to $2.23 per share, a 3% increase compared to the prior year trailing twelve-month period. The dividend will be payable on Sept. 25, 2020, to shareholders of record as of Sept. 1, 2020.\n\n\n\n“Swift and proactive management decisions early on in response to COVID-19 have put our employees and our business in a favorable position to continue serving our customers and delivering results despite ongoing disruption caused by the pandemic,” said Dan Houston, chairman, president, and CEO of Principal. “I’m confident we have the right team, strategy, and financial foundation in place to continue navigating the challenges and opportunities ahead – meeting the needs of our 32 million customers around the world.”\n\n\n“I’m very pleased with Principal’s second quarter results. We reported non-GAAP operating earnings of $403 million, delivered $6 billion of positive net cash flow and continue to deliver outstanding investment performance across a wide array of investment options and platforms. We continue to focus on creating long-term sharehold...