WEST DES MOINES, Iowa--(BUSINESS WIRE)--FBL Financial Group, Inc. (NYSE: FFG) today announces a 4.8% increase in its quarterly cash dividend to $0.44 per share and a special cash dividend of $1.50 per share.
“FBL Financial Group maintains a strong financial foundation and has excess capital,” said James P. Brannen, Chief Executive Officer of FBL Financial Group, Inc. “We are committed to returning cash to shareholders as demonstrated by the payment of this special dividend and by increasing our regular quarterly dividend.”
Quarterly Dividend Increase to $0.44 Per Share. FBL Financial Group’s Board of Directors has declared a quarterly cash dividend of $0.44 per share, payable on March 31, 2017 to Class A and Class B common stockholders of record as of March 15, 2017. This represents a 4.8% increase from the prior quarterly dividend of $0.42 per share paid in December 2016, and reflects an annual indicated dividend rate of $1.76 per share. Based on this dividend rate, FBL Financial Group’s indicated dividend yield is currently 2.6 percent.
Special Cash Dividend of $1.50 Per Share. FBL Financial Group’s Board of Directors has declared a special cash dividend of $1.50 per share, payable on March 31, 2017 to Class A and Class B common stockholders of record as of March 15, 2017. The total amount of the special cash dividend payment is estimated to be approximately $37 million.
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.