SPRINGFIELD, Ill.--(BUSINESS WIRE)--Horace Mann Educators Corporation (NYSE:HMN) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.2875 per share payable on Sept. 30, 2019, to shareholders of record as of Sept. 16, 2019.
“Horace Mann is better equipped than ever before to meet the financial needs of the education market, advance our long-term growth strategies and accelerate shareholder value creation,” said President and CEO Marita Zuraitis, “Reinsuring our legacy annuity block in June released capital that we used to acquire National Teachers Associates. The reinsurance transaction also significantly reduced future interest-spread risk. Completing the NTA acquisition in July diversified our business mix and redeployed capital into higher-margin products.
“The end result is a larger, more diverse company that is poised for strong earnings growth and a return to double-digit return on equity,” Zuraitis noted, “The addition of NTA should add several points to ROE over the next few years, beginning with one point of accretion in its first full year as part of Horace Mann. In addition, cross-selling our combined product lines and optimizing their investment portfolio should add another point by 2021.
“At the upcoming KBW Insurance Conference, we also will be talking about implementation of expense synergies and efficiencies across our entire business that should add at least an additional point to ROE, even before the accretive benefits of business growth. As these contributions build from our 2019 ROE guidance, we see a clear path to a double digit return,” Zuraitis concluded.
Horace Mann Educators Corporation will present at the KBW Insurance Conference in New York City on Thursday, September 5, 2019, at 10:50 a.m. ET. A link to the live audio webcast of the presentation will be available on the Events page of investors.horacemann.com. A webcast replay of the presentation will be available later that day at the same location.
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 Quarterly Report on Form 10-Q for the period ended June 30, 2019 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.