Principal Financial Q4 Results Top Estimates; Boosts Dividend

(RTTNews) - Principal Financial Group, Inc. (PFG) reported net income for fourth quarter of $270.4 million or $0.91 per share, compared to $233.4 million or $0.78 per share for year-ago quarter.

Operating earnings for the fourth quarter was $324.0 million or $1.09 per share, compared to $286.0 million for $0.96 per share in the prior year quarter.

Operating revenues for fourth quarter rose 8% to $2.96 billion from $2.74 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.04 per share on revenue of $2.58 billion for the fourth quarter. Analysts' estimates typically exclude special items.

The company also said that its Board of Directors has authorized a quarterly dividend of $0.36 per share for first quarter 2015, a 6% increase over fourth quarter 2014. The dividend will be payable on March 27 to shareholders of record as of March 9.