Horace Mann Educators (HMN) Raises Quarterly Dividend 3.1% to $0.33; 3.6% Yield

Horace Mann Educators (NYSE: HMN) declared a quarterly dividend of $0.33 per share, or $1.32 annualized. This is a 3.1% increase from the prior dividend of $0.32.

The dividend will be payable on March 31, 2023, to stockholders of record on March 16, 2023, with an ex-dividend date of March 15, 2023.

The annual yield on the dividend is 3.6 percent.

• Horace Mann Educators Corporation (NYSE: HMN) today announced that its Board of Directors approved a 3.1% increase in the quarterly cash dividend to $0.33 per share. This represents an indicated annual dividend of $1.32 per share. The quarterly dividend is payable on March 31, 2023, to shareholders of record as of March 16, 2023.
• “This is the 15th consecutive year the Board has increased the annual shareholder cash dividend, reflecting Horace Mann’s commitment to long-term shareholder value creation,” said Marita Zuraitis, Horace Mann President and CEO. “The steadily increasing cash dividend and opportunistic share repurchases are important aspects of that commitment. However, increasing our share of the education market — through both our school district employer and individual educator channels — remains our strategic priority.
• “In the early months of 2023, sales continued to accelerate,” Zuraitis added. “For example, in the Worksite Division in January and February, sales for the worksite direct products were up more than 150% over prior year with sales for the employer-sponsored products up more than 50%. Further, we remain on track to achieve our targeted 2023 rate increases in the range of 18% to 20% for auto and 12% to 15% for property. These rate plans put us on track to our targeted 2024 combined ratio targets of between 97% and 98% for auto and between 92% and 93% for property.
• “In conjunction with the anticipated return to our longer-term profitability targets in the Property & Casualty segment, we continue to believe our 2023 core EPS will be in the range of $2.00 to $2.30,” Zuraitis said. “In 2024, we believe we will return to a double-digit return on equity as core EPS approaches $4, driven by our profitable growth.”

For a dividend history and other dividend-related data on Horace Mann Educators (HMN) click here.

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