Principal authorizes $100 million share repurchase 

Principal Financial Group Inc. announced that its board of directors has authorizedthe repurchase of up to $100 million worth of the company’s outstanding common stock. The repurchases will be made in the open market or through privately negotiated transactions from time to time, depending on market conditions, the company said in a release. Principal had 301.1 million shares of common stock outstanding as of Dec. 31. Principal also announced today that its board has declared a quarterly dividend of 18 cents per share, payable on March 30 to shareholders of record as of March 12. The total deployment of $154 million of cash from these two actions “is part of our overall plan to deploy $800 million to $900 million of capital in 2012 on strategic acquisitions and by returning capital to shareholders,” said Larry Zimpleman, Principal’s chairman, president and CEO.  

Principal Financial Group Inc. announced that its board of directors has authorizedthe repurchase of up to $100 million worth of the company’s outstanding common stock. The repurchases will be made in the open market or through privately negotiated transactions from time to time, depending on market conditions, the company said in a release. Principal had 301.1 million shares of common stock outstanding as of Dec. 31. Principal also announced today that its board has declared a quarterly dividend of 18 cents per share, payable on March 30 to shareholders of record as of March 12. The total deployment of $154 million of cash from these two actions “is part of our overall plan to deploy $800 million to $900 million of capital in 2012 on strategic acquisitions and by returning capital to shareholders,” said Larry Zimpleman, Principal’s chairman, president and CEO.