SPRINGFIELD, Ill.--(BUSINESS WIRE)--Horace Mann Educators Corporation (NYSE:HMN) today announced that its Board of Directors declared a 1% increase in the quarterly cash dividend to $0.2875 per share payable on March 29, 2019 to shareholders of record as of March 18, 2019. This represents an annualized dividend of $1.15 per share.
“Our ability to raise the dividend for the 11th consecutive year is a testament to Horace Mann’s financial strength,” said President and Chief Executive Officer Marita Zuraitis. “We are balancing our commitment to creating long-term shareholder value with the need for maximum capital flexibility for our pending acquisition of National Teachers Associates (NTA), which is anticipated to close in mid-2019. We are excited about the potential for accelerated shareholder value creation as a result of this transaction.”
Horace Mann announced in December that it has signed a definitive agreement to acquire NTA, a provider of supplemental insurance products to the education market for nearly 50 years. The combined company will have an enhanced product set, additional points of distribution and expanded scale, and is expected to deliver immediate earnings and return on equity accretion with additional long-term upside from cross-sell opportunities.
In addition, on January 2, 2019, Horace Mann closed on its acquisition of Benefit Consultants Group (BCG), which expands Horace Mann’s strategic capabilities in the retirement market.
About Horace Mann
Horace Mann is the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Ill. For more information, visit horacemann.com.
Safe Harbor Statement
Statements included in this news release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties. Horace Mann is not under any obligation to (and expressly disclaims any such obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to the company's Annual Report on Form 10-K for the period ended December 31, 2018 and the company's past and future filings and reports filed with the Securities and Exchange Commission for information concerning the important factors that could cause actual results to differ materially from those in forward-looking statements.