Horace Mann Educators (HMN) will raise its quarterly dividend by 4.3 percent to $0.30 per share in 2020. This marks the 11th consecutive year of dividend increases by the company and comes after a 0.9 percent dividend increase last year.

The next dividend is payable on March 31, 2020, to shareholders of record as of March 17, 2020. A new annual dividend rate of $1.20 per share yields 3.0% at a stock price of $39.76.

“This is the 12th consecutive year the board has increased the annual cash dividend for our shareholders,” said President and Chief Executive Officer Marita Zuraitis in the company's press release announcing this dividend hike. “Horace Mann achieved strong results in 2019 that showed the benefits of our transformation and the potential of our strategic initiatives. By building on that success in 2020 and beyond, we can expand our market reach to provide solutions for more educators and further accelerate shareholder value creation.”

Horace Mann Educators Corporation is an insurance holding company.  Through its subsidiaries, the company markets and underwrites personal lines of property and casualty insurance, primarily automobile and property coverages supplemental insurance, primarily heart, cancer, accident and limited short-term supplemental disability coverages, retirement products, primarily tax-qualified annuities and life insurance, primarily whole life, term and indexed universal life (IUL). Founded by Educators for Educators, the company's business began in Springfield, Illinois in 1945 when two school teachers started selling automobile insurance to other teachers within Illinois.