h digitalfootprint web 728x90

Principal reports lower year-over-year net income in first quarter


Principal Financial Group on Thursday announced earnings results for the first quarter. Net income attributable to Principal in the quarter that ended March 31 was $376.2 million, or $1.43 per share, compared to $517.1 million, or $1.87 per share, for first quarter 2021. Non-GAAP operating earnings for the first quarter of 2022 were $428.8 million, compared to $423.5 million in the prior-year quarter. Principal’s board of directors authorized a quarterly common stock dividend of 64 cents per share for the second quarter, bringing the trailing 12-month dividend to $2.55 per share, an 11% increase compared to the prior-year period. “Strong underlying fundamentals and a sharp focus on our growth drivers drove a solid start to the year despite significant market volatility and geopolitical uncertainty,” Dan Houston, Principal’s chairman, president and CEO, said in an earnings release. The company returned $891.4 million of capital to shareholders during the first quarter, including $167 million of common stock dividends with a 64-cent common dividend paid in the first quarter; and $724.4 million to repurchase 10.8 million shares of common stock.

Facebook Notice for EU! You need to login to view and post FB Comments!

bankerstrust web 050123 300x250