Exhibit 99

 

T:\tm206043-1\tm206043-1_8kseq1 

 

Release: On receipt, Jan. 28, 2020
Media Contact: Jane Slusark, 515-362-0482, slusark.jane@principal.com
Investor Contact: John Egan, 515-235-9500, egan.john@principal.com

 

Principal announces Fourth Quarter and Full Year 2019 results

Company also announces increase to common stock dividend

 

  Company Highlights
   
·Fourth quarter 2019 net income attributable to Principal Financial Group, Inc. (PFG) of $300.9 million, or $1.07 per diluted share. Full year 2019 net income attributable to Principal Financial Group, Inc. of $1,394.2 million, or $4.96 per diluted share
   
·Fourth quarter 2019 non-GAAP operating earnings1 of $396.4 million, or $1.41 per diluted share. Full year 2019 non-GAAP operating earnings of $1,569.1 million, or $5.58 per diluted share
   
·Record assets under management (AUM) of $735.3 billion
   
·Company declares first quarter 2020 common stock dividend of $0.56 per share; a 4% increase over first quarter 2019
   

 

(Des Moines, Iowa) – Principal Financial Group® (Nasdaq: PFG) today announced results for fourth quarter and the full year of 2019.

 

·Net income attributable to PFG for fourth quarter 2019 of $300.9 million, compared to $236.5 million for fourth quarter 2018. Net income per diluted share of $1.07 for fourth quarter 2019 compared to $0.83 in the prior year quarter. For the 12 months ending Dec. 31, 2019, net income attributable to PFG of $1,394.2 million, or $4.96 per diluted share, compared to $1,546.5 million, or $5.36 per diluted share, for the 12 months ending Dec. 31, 2018.

 

·Non-GAAP operating earnings for fourth quarter 2019 of $396.4 million, compared to $316.1 million for fourth quarter 2018. Non-GAAP operating earnings per diluted share of $1.41 for fourth quarter 2019 compared to $1.11 for fourth quarter 2018. For the 12 months ending Dec. 31, 2019, non-GAAP operating earnings of $1,569.1 million, or $5.58 per diluted share, compared to $1,597.5 million, or $5.53 per diluted share, for the 12 months ending Dec. 31, 2018.

 

·Quarterly common stock dividend of $0.56 per share for first quarter 2020 was authorized by the company’s Board of Directors, bringing the trailing twelve-month dividend to $2.20 per share, a 3% increase compared to the prior year trailing twelve-month period. The dividend will be payable on Mar. 27, 2020, to shareholders of record as of Mar. 2, 2020.

 

 

 

1 Use of non-GAAP financial measures is discussed in this release after segment results. Non-GAAP operating earnings for total company is after tax.

 


The following information was filed by Principal Financial Group Inc (PFG) on Tuesday, January 28, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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