Latest Breaking News On - Des moines based principal financial - Page 1 : comparemela.com

Principal increasing shareholder payments amid cuts to insurance, retirement businesses Wednesday, June 30, 2021 3:07 PM Des Moines Register: Executives at Des Moines-based Principal Financial expect to increase payments to shareholders as the company sells off some of its traditional lines of business. Company leaders said during a presentation Tuesday that they plan to route more free cash flow to investors over the next couple of years. The company believes the move will increase share prices. The presentation came a day after the financial services company announced it will stop selling life insurance products to retail customers, ending a line of business it has conducted for 142 years. Principal also will stop selling fixed-annuity retirement plans. Chief Financial Officer Deanna Strable said she expects the moves to increase the amount of free cash that Principal will hold. Company executives said they expect to provide $3 billion to shareholders via stock buyb

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