Key Developments: FBL Financial Group Inc (FFG.N)
44.50USD
1 Aug 2013
$0.27 (+0.61%)
$44.23
$44.39
$44.78
$44.30
14,042
15,053
$46.28
$29.14
Latest Key Developments (Source: Significant Developments)
FBL Financial Group Inc Declares Quarterly Dividend
FBL Financial Group Inc announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share to owners of Class A and Class B common stock. The dividend will be payable on June 28, 2013 to shareholders of record as of June 14, 2013. Full Article
FBL Financial Group Inc Raises Quarterly Dividend
FBL Financial Group Inc announced that Board of Directors has increased the quarterly cash dividend to $0.11 per share to owners of Class A and Class B common stock.The FBL Financial Group Board has approved a 10 % increase in the quarterly cash dividend to $0.11 per share from $0.10 per share on its Class A and Class B common stock. The dividend reflects an indicated annual dividend rate of $0.44 per share.The quarterly dividend will be payable on March 29, 2013 to shareholders of record as of March 15, 2013. There are 24,260,022 shares of Class A common stock and 1,141,291 shares of Class B common stock, for a total of 25,401,313 common shares outstanding. Full Article
FBL Financial Group Inc Authorizes $30 Million Stock Repurchase Plan And Declares Quarterly Dividend
FBL Financial Group Inc announced that Board of Directors has authorized a plan for FBL to repurchase $30 million of its Class A common stock. FBL Financial Group`s Board of Directors has also declared a quarterly cash dividend of $0.10 per share to owners of Class A and Class B common stock. The quarterly dividend will be payable on December 31, 2012 to shareholders of record as of December 14, 2012. There are 24,532,543 shares of Class A common stock and 1,192,890 shares of Class B common stock, for a total of 25,725,433 common shares outstanding. The Board of Directors has approved a plan to repurchase up to $30 million of Class A common stock, which will commence upon the completion of the current $200 million repurchase plan, which was approved in October 2011 and has $14.6 million remaining. The repurchase plan authorizes FBL Financial Group to make repurchases in the open market or through privately negotiated transactions, with the timing and terms of the purchases to be determined by management based on market conditions. Completion of the program is dependent on market conditions and other factors. There is no guarantee as to the exact timing of any repurchases or the number of shares, if any, that FBL Financial Group will repurchase. The share repurchase program may be modified or terminated by FBL Financial Group at any time without prior notice. Full Article
FBL Financial Group Inc Appoints James P. Brannen As Chief Executive Officer; Declares Quarterly Dividend
FBL Financial Group Inc announced that its board of directors has named James P. (Jim) Brannen to the position of Chief Executive Officer, after his service as interim Chief Executive Officer for two months. Donald J. (Don) Seibel, who currently serves as Vice President – Finance, has been named Chief Financial Officer and Treasurer, positions previously held by Brannen. Both will assume their new roles immediately. The board also declared the third quarter 2012 dividend of $0.10 per share. The quarterly dividend will be payable on September 28, 2012 to shareholders of record as of September 14, 2012. Full Article
FBL Financial Group Inc CEO James E. Hohmann to Step Down
FBL Financial Group Inc announced that Chief Executive Officer James E. Hohmann will be stepping down effective June 30, 2012. He will also be stepping down from the FBL Financial Group board. Current Chief Financial Officer, James P. Brannen, has been named interim Chief Executive Officer until a successor can be appointed. The FBL Board of Directors expects to implement a process to identify and name a permanent CEO by the end of the year. Full Article
FBL Financial Group, Inc. Announces Modified Dutch Auction Tender Offer and Share Repurchase for up to $175 million of Shares of FBL Class A Common Stock
FBL Financial Group, Inc. announced that its Board of Directors has approved share repurchase transactions totaling up to $175 million. The repurchases will be effected by a tender offer for up to $140 million of shares of its Class A Common Stock (the "Shares") and a separate agreement to repurchase up to 1,000,000 Shares from Iowa Farm Bureau Federation, its majority shareholder, for the price at which Shares are purchased in the tender offer. These transactions are part of FBL Financial Group`s $200 million stock repurchase authorization announced on October 7, 2011. The tender offer is expected to commence the week of February 27, 2012. Under the tender offer, which is structured as a modified "Dutch action," shareholders may tender all or a portion of their Shares at a price between $33.00 and $35.00 per Share, in increments of $0.25 per Share. When the tender offer expires, FBL Financial Group will select the lowest price within the range enabling it to purchase up to $140 million of Shares and all Shares purchased will be purchased at the same price. Full Article
FBL Financial Group, Inc. Declares Quarterly Dividend
FBL Financial Group, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.10 per share to owners of Class A and Class B common stock. The quarterly dividend will be payable on March 30, 2012 to shareholders of record as of March 15, 2012. Full Article
FBL Financial Group, Inc. Announces Closing of EquiTrust Life Insurance Company Sale
FBL Financial Group, Inc. announced that it has closed the previously announced sale of its subsidiary, EquiTrust Life Insurance Company, to a controlled affiliate of Guggenheim Partners, LLC in an all-cash transaction with initial sale proceeds of $471.4 million. The initial sale proceeds of $471.4 million consist of the preliminary purchase price of $440 million increased by $31.4 million for the closing net worth adjustment, calculated as the estimated change in EquiTrust Life’s adjusted statutory net worth for the nine-month period since March 31, 2011. The final price will be determined after the year-end statutory balance sheet is completed for EquiTrust Life and a further post-closing adjusted statutory net worth reconciliation is calculated. In conjunction with the closing of the sale of EquiTrust Life, $50 million of FBL Financial Group’s $100 million principal amount of 6.10% Senior Notes due 2015, held solely by affiliates, have been redeemed from Farm Bureau Property & Casualty Insurance Company. Additionally, in accordance with the terms of FBL Financial Group’s 5.85% Senior Notes due 2014 and 5.875% Senior Notes due 2017, a portion of the sale proceeds will be used to redeem this public debt. These notes, which have a principal amount outstanding of $175 million, are expected to be redeemed on January 30, 2012, at the make-whole redemption price. Full Article
FBL Financial Group, Inc. Names New Chairman
FBL Financial Group, Inc. announced that Craig D. Hill, newly elected President of the Iowa Farm Bureau Federation, has been named Chairman of the Board of FBL Financial Group. Hill succeeds Craig A. Lang, who held the Chairman position since 2001. Full Article
FBL Financial Group, Inc. Raises Quarterly Dividend
FBL Financial Group, Inc. announced that its Board of Directors has increased the quarterly cash dividend to $0.10 per share to owners of Class A and Class B common stock. The FBL Financial Group Board has approved a 60 percent increase in the quarterly cash dividend to $0.10 per share from $0.0625 per share on its Class A and Class B common stock. The dividend reflects an indicated annual dividend rate of $0.40 per share. The quarterly dividend will be payable on December 30, 2011 to shareholders of record as of December 15, 2011. Full Article

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