Horace Mann Announces 18% Dividend Increase to $0.13; Share Repurchase Authorization of up to $50M

Horace Mann Educators Corporation

Board of Directors today announced a quarterly dividend of 13 cents per share payable on December 30, 2011 to shareholders of record as of December 19, 2011. The quarterly dividend amount represents an increase of 18 percent from the third quarter 2011 dividend. The company's Board of Directors also authorized a new share repurchase program allowing repurchases of up to $50 million. The share repurchase program authorizes the opportunistic repurchase of common shares in open market or privately negotiated transactions, from time to time, depending on market conditions. The share repurchase program does not have an expiration date and may be limited or terminated at any time without notice.