DES MOINES, Iowa, May 18, 2011 (BUSINESS WIRE) --
Principal Financial Group, Inc. (NYSE: PFG) announced today that its
Board of Directors has declared a cash dividend of $1.39075 per share on
its 5.563% Series A non-cumulative perpetual preferred stock and a cash
dividend of $0.407375 per share on its 6.518% Series B non-cumulative
perpetual preferred stock. The preferred dividends are payable on June
30, 2011, to preferred stockholders of record as of June 9, 2011.
Forward looking and cautionary statements
This press release
contains forward-looking statements, including, without limitation,
statements as to operating earnings, net income available to common
stockholders, net cash flows, realized and unrealized gains and losses,
capital and liquidity positions, sales and earnings trends, and
management's beliefs, expectations, goals and opinions. The company does
not undertake to update these statements, which are based on a number of
assumptions concerning future conditions that may ultimately prove to be
inaccurate. Future events and their effects on the company may not be
those anticipated, and actual results may differ materially from the
results anticipated in these forward-looking statements. The risks,
uncertainties and factors that could cause or contribute to such
material differences are discussed in the company's annual report on
Form 10-K for the year ended Dec. 31, 2010, and quarterly report on Form
10-Q for the quarter ended March 31, 2011, filed by the company with the
Securities and Exchange Commission, as updated or supplemented from time
to time in subsequent filings. These risks and uncertainties include,
without limitation: adverse capital and credit market conditions that
may significantly affect the company's ability to meet liquidity needs,
access to capital and cost of capital; continued difficult conditions in
the global capital markets and the economy generally that may materially
adversely affect the company's business and results of operations; the
risk from acquiring new businesses; impairment of other financial
institutions that could adversely affect the company; investment risks
which may diminish the value of the company's invested assets and the
investment returns credited to customers, which could reduce sales,
revenues, assets under management and net income; requirements to post
collateral or make payments related to declines in market value of
specified assets may adversely affect company liquidity and expose the
company to counterparty credit risk; changes in laws, regulations or
accounting standards that may reduce company profitability; fluctuations
in foreign currency exchange rates that could reduce company
profitability; Principal Financial Group, Inc.'s primary reliance, as a
holding company, on dividends from its subsidiaries to meet debt payment
obligations and regulatory restrictions on the ability of subsidiaries
to pay such dividends; competitive factors; volatility of financial
markets; decrease in ratings; interest rate changes; inability to
attract and retain sales representatives; international business risks;
a pandemic, terrorist attack or other catastrophic event; and default of
the company's re-insurers.
About the Principal Financial Group
The Principal Financial
Group(R) (The Principal(R))1 is a leader in
offering businesses, individuals and institutional clients a wide range
of financial products and services, including retirement and investment
services, insurance, and banking through its diverse family of financial
services companies. A member of the Fortune 500, the Principal Financial
Group has $327.4 billion in assets under management2 and
serves some 16.4 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
1 "The Principal Financial Group" and "The Principal" are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of March 31, 2011
SOURCE: Principal Financial Group, Inc.
Principal Financial Group, Inc.
Media contact:
Susan Houser, 515-248-2268
houser.susan@principal.com
or
Investor Relations contact:
John Egan, 515-235-9500
egan.john@principal.com
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