CNO Financial Group Announces $500 Million Increase to Securities Repurchase Authorization and Declares $0.16 Quarterly Dividend

Rhea-AI Summary

CNO Financial Group (NYSE: CNO) has announced three key updates: First, its Board of Directors approved an additional $500 million for share repurchases, adding to the existing $240.3 million remaining capacity as of December 31, 2024. The repurchase program will be implemented through open market purchases, private transactions, or tender offers.

Second, the company declared a quarterly cash dividend of $0.16 per share, payable March 24, 2025, to shareholders of record as of March 10, 2025.

Third, CNO scheduled its annual shareholder meeting for May 8, 2025, at 8:00 a.m. ET, to be held virtually. Shareholders of record as of March 10, 2025, will be able to participate, vote, and submit questions during the virtual meeting.

Positive

• Additional $500 million authorized for share repurchases
• Existing $240.3 million repurchase capacity still available
• Maintained quarterly dividend of $0.16 per share

Negative

• None.

Company also announces virtual annual shareholder meeting date 

CARMEL, Ind., Feb. 12, 2025 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) announced today that its Board of Directors has approved an additional $500 million to repurchase the company's outstanding shares of common stock. As of December 31, 2024, CNO had approximately $240.3 million of remaining repurchase capacity under its share repurchase program. The repurchase program is intended to be implemented through purchases made from time to time in the open market, through private transactions or by a tender offer, in accordance with Securities and Exchange Commission requirements. The amount and timing of the repurchases (if any) will be based on business and market conditions and other factors.

CNO also announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on the company's common shares. The dividend will be payable March 24, 2025, to shareholders of record at the close of business on March 10, 2025.

Finally, the company announced that its annual meeting of shareholders will be held via a virtual, live webcast at 8:00 a.m. ET on May 8, 2025. Holders of record at the close of business on March 10, 2025, will be able to participate in, vote, and submit questions during the virtual meeting.

About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) secures the future of middle-income America. CNO provides life and health insurance, annuities, financial services, and workforce benefits solutions through our family of brands, including Bankers Life, Colonial Penn, Optavise and Washington National. Our customers work hard to save for the future, and we help protect their health, income and retirement needs with 3.2 million policies and $37.9 billion in total assets. Our 3,500 associates, 4,900 exclusive agents and more than 5,500 independent partner agents guide individuals, families, and businesses through a lifetime of financial decisions. For more information, visit CNOinc.com.

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SOURCE CNO Financial Group

FAQ

What is the new total share repurchase authorization for CNO Financial Group?

CNO Financial Group's total share repurchase authorization is $740.3 million, consisting of the new $500 million authorization plus the existing $240.3 million remaining capacity as of December 31, 2024.

When will CNO Financial Group pay its next dividend?

CNO Financial Group will pay its quarterly dividend of $0.16 per share on March 24, 2025, to shareholders of record as of March 10, 2025.

When is CNO Financial Group's 2025 annual shareholder meeting?

CNO Financial Group's 2025 annual shareholder meeting will be held virtually on May 8, 2025, at 8:00 a.m. ET.

What is the record date for CNO's 2025 annual shareholder meeting?

The record date for CNO's 2025 annual shareholder meeting is March 10, 2025.

How will CNO implement its share repurchase program?

CNO will implement its share repurchase program through purchases made from time to time in the open market, through private transactions, or by tender offer, based on business and market conditions.