Principal Financial Group on Thursday reported net income for the first quarter of $429.9 million, compared with $397.1 million for first quarter 2018. Net income per diluted share of $1.53 for first quarter 2019 compares with $1.36 in the prior-year quarter. Non-GAAP operating earnings for first quarter 2019 were $400.3 million, compared with $408.8 million for first quarter 2018. Principal’s board authorized a common stock dividend of 54 cents per share for the second quarter, bringing the trailing 12-month dividend to $2.15 per share, an 8% increase compared with the prior year trailing 12-month period. “First quarter was a good start to the year for Principal, as significant improvement in macroeconomic conditions helped drive strong growth in assets under management and non-GAAP operating earnings compared to fourth quarter 2018,” said Dan Houston, chairman, president and CEO. During the first quarter, Principal committed $1.2 billion to the planned acquisition of Wells Fargo’s Institutional Retirement and Trust business, which was announced earlier this month. The company also returned $280 million to shareholders through common stock dividends and share buybacks.