Horace Mann Educators Corporation's Board of Directors authorized a new share repurchase program of up to $50 million. This program is in addition to the approximately $60 million in cash dividends the company pays annually.
The company had repurchased a total of $130.9 million since 2011 under previous authorizations. This new authorization demonstrates Horace Mann's commitment to driving long-term shareholder value creation.
Management stated that while executing strategic growth initiatives remains the top priority for capital management, this authorization shows a commitment to repurchasing shares. Repurchases may be executed through open market purchases, privately negotiated transactions, or other methods.
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