DES MOINES, Iowa–(BUSINESS WIRE)– Principal Financial Group, Inc. (PFG) today announced results for first quarter 2016. Quarterly common stock dividend of $0.39 per share for second quarter 2016 was authorized by the company’s Board of Directors, it will be 2.63% increase compared to 0.38 per share for the last quarter. The dividend will be payable on June 24, 2016, to shareholders of record as of June 6, 2016.
As a result, the YOC of my position in PFG will be improved to 3.1% from 3.0%. This is one of the worst investment I made in 2015. This position carries a 16.4% unrealized loss as of today.
MetLife (NYSE:MET) has declared a second quarter 2016 common stock dividend of $0.40 per share, an increase of approximately 7 percent from the first quarter 2016 common stock dividend of $0.375 per share. This is the second year in a row that the company has increased its dividend by approximately 7 percent and represents a 116 percent increase since the first quarter of 2013, the last quarter before the company resumed dividend increases. The dividend will be payable on June 13, 2016, to shareholders of record as of May 9, 2016.
With this increase, although the YOC of my position in MET will increase to 3.2% from 3.0%, my position has 15.2% unrealized loss as of today. This is another worst investment I made last year.
Disclosure: Long PFG, MET