Principal Financial Group Increases Dividend to 69c, Authorizes $1.5B Buyback - MarketWatch

By Denny Jacob

Principal Financial Group increased its dividend to 69 cents a share from 67 cents a share.

The new payout, equal to $2.76 a year, represents an annual yield of 3.5% based on Monday's closing price of $78.94.

The investment management offering business said the dividend will be payable on March 28 to shareholders of record as of March 12.

Principal Financial Group also disclosed that its board approved a new authorization for the repurchase of $1.5 billion of the company's outstanding common stock.

Write to Denny Jacob at denny.jacob@wsj.com

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Principal Financial Group Increases Dividend to 69c, Authorizes $1.5B Buyback - MarketWatch
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