The board of directors of Lincoln National Corporation (NYSE:LNC) declared a quarterly cash dividend of $0.08 per share on the corporation’s common shares and $0.75 per share on its $3.00 Cumulative Convertible Preferred Stock Series A. The dividend on the common stock will be payable November 1, 2012, to shareholders of record at the close of business on October 10, 2012. The dividend on the corporation’s Series A Preferred Stock will be payable December 5, 2012, to shareholders of record at the close of business on November 14, 2012.
The board of directors also approved an increase to the corporation’s authority to repurchase its securities bringing the total repurchase authority up to $1 billion. Under this authority and without further announcement, the corporation may repurchase securities in such amounts at such times, as it deems appropriate. Purchases may be made on the various stock exchanges, by block trades, in privately negotiated transactions, or by other means. The repurchase authority does not have a termination date.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $168 billion as of June 30, 2012. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life, disability and dental insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.