Lincoln National Corporation (NYSE: LNC) today announced that its Board of Directors approved raising the quarterly dividend on its common shares to $0.08 per share. The newly declared dividend represents a 60% increase over the prior-year level.
"We are pleased to announce an increase in our quarterly cash dividend, which reflects our confidence in the performance of our businesses and the outlook for our company," said President and CEO Dennis R. Glass. "Today’s announcement does not affect our plans to continue to return capital to shareholders through share repurchase," Glass added.
The increased common stock dividend is payable on February 1, 2012 to shareholders of record at the close of business on January 10, 2012. The Board of Directors also declared its regular dividend of $0.75 per share on its $3.00 Cumulative Convertible Preferred Stock Series A, payable March 5, 2012 to shareholders of record at the close of business on February 13, 2012.
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 $153 billion as of September 30, 2011. 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.