FBL Financial Makes Dividend Announcement and Authorizes New Stock Repurchase Program

On March 1, FBL Financial Group, Inc. (FFG) made some big announcements to shareholders. The company increased its quarterly dividend by 4.5% to $0.46 per share. Shareholders will receive this dividend in March along with a special cash dividend of $1.50 per share. In addition, the Board of Directors authorized a new stock repurchase program worth $50 million that will replace the program set to expire at the end of this month. The new repurchase program will last until March 2022.

 

Sonal detected the event and sent an alert at 4:14 pm on March 1. The next trade took place at 8:00 am on March 2 for $65.20. The stock price declined at the start of regular market trading. After opening at $64.70, FBL’s stock price pushed higher throughout the day before closing at $69.35.

The stock price continued to move higher over the next five trading sessions. FBL Financial closed at $72.70 on March 9, which makes a gain of over 12% from the market opening after the event.

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