Principal Financial Group (PFG) will raise its quarterly dividend by another 1.9 percent to $0.54 per share in the fourth quarter of 2018. This marks the fourth dividend hike by the company this year, raising the quarterly dividend by a total of 5 cents (+12%) per share.

The increased dividend will be payable on December 28, 2018, to shareholders of record as of December 3, 2018.

The new annual dividend of  $2.16 per share yields 4.7% at a stock price of $45.98.

“This year, we’ve returned $886 million to shareholders through common stock dividends and share repurchases, and committed $130 million to acquisitions, reflecting our balanced approach to capital deployment and our commitment to creating long-term shareholder value. Today we also announced our 11th consecutive common stock dividend increase, emphasizing our conviction around our earnings and our strong capital position.”

Principal Financial Group, Inc. is a global investment management company offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its financial services companies.  The company provides long-term investment strategies to institutional, retirement, high net worth and retail clients through equity, fixed income, real estate and other alternative investments, as well as fund offerings. PFG has four reportable segments: Retirement and Income Solutions, Principal Global Investors, Principal International and U.S. Insurance Solutions. The company completed its initial offering on October 26, 2001 at a price of $18.50 per share and dividends have been paid since Q4 of 2002.