Hello readers, how’s your weekend? Our Golden Week finally has come to an end. Our Golden Week began from May 3rd , but some people took paid leaves on Monday and Tuesday so that they could take a 9 day long vacation. I know most people in Japan are anxious now.
Anyway, I received a great news. On April 27th, DES MOINES, Iowa–(BUSINESS WIRE)– Principal Financial Group® (NYSE: PFG) today announced results for first quarter 2017.
- Net income available to common stockholders for first quarter 2017 of $348.9 million, compared to $368.0 million for first quarter 2016. Net income per diluted share of $1.19 for first quarter 2017 was down 5 percent, compared to $1.25 in prior year quarter, which had favorable derivative marks driven by interest rate volatility.
- Operating earnings increased 29 percent to $370.5 million for first quarter 2017, compared to $286.3 million for first quarter 2016. Operating earnings per diluted share (EPS) of $1.27 for first quarter 2017 was up 31 percent, compared to $0.97 for first quarter 2016.
- Quarterly common stock dividend of $0.46 per share for second quarter 2017 was authorized by the company’s Board of Directors, bringing the trailing twelve month dividend to $1.75 per share, a 14 percent increase compared to the prior year trailing twelve month period. The dividend will be payable on June 30, 2017, to shareholders of record as of June 5, 2017.
Although this is just a one cent increase from the last quarter, this is the fifth consecutive dividend increase by PFG. However, my YOC remains at 3.6%.
As I have only 80 shares, so an impact of dividend increase is small, but I am pleased with it.
Disclosure: Long PFG