Horace Mann Board of Directors authorizes new $50 million share repurchase program
To host Investor Day on May 13, 2025
Horace Mann Educators Corporation (NYSE:HMN) today announced its Board of Directors has authorized a new share repurchase program of up to $50 million. Under previous authorizations, through May 9, the company had repurchased a total of $130.9 million since 2011.
"Horace Mann remains committed to driving long-term shareholder value creation," said Horace Mann President and CEO Marita Zuraitis. "Today, whether educators are receiving benefits through work; buying solutions from a trusted, local advisor; or using our convenient online capabilities — Horace Mann can help them achieve lifelong financial success. We continue to execute on our strategy to drive sustained, profitable growth, and we are on track to meet our 2025 goals of record core earnings and a double-digit shareholder return on equity.
"As a result, we are more confident than ever in the capital generation of our multiline business. This share repurchase authorization is in addition to the nearly $60 million in cash dividends we already pay annually," Zuraitis added. "While executing on our strategic growth initiatives remains the top priority of our capital management plan, this sizeable authorization shows our commitment to repurchasing shares to create value for shareholders."
Horace Mann will host an in-person Investor Day on May 13, 2025 in New York City. The event will feature presentations from Horace Mann's executive leadership team who will provide insight into the company's strategic initiatives and vision for the future, as well as a Q&A. The presentations will begin at 10 a.m. ET and conclude at approximately 1 p.m ET. To view the live webcast and access related materials, please register at investors.horacemann.com. A replay will also be available following the event.
Under the repurchase authorization, the company may repurchase, from time to time, common stock in amounts, at prices and at such times as the company deems appropriate, subject to market conditions and other considerations. Repurchases may be executed using open market purchases, privately negotiated transactions, accelerated repurchase programs or other transactions. The company is not required to purchase any specific number of shares or to make purchases by any certain date under this program. The company may establish trading plans under the Securities and Exchange Commission's rule 10b5-1 that will provide additional flexibility as it buys back its stock.
About Horace Mann
Horace Mann Educators Corporation is the largest multiline financial services company focused on helping America's educators and others who serve the community achieve lifelong financial success. The company offers individual and group insurance and financial solutions tailored to the needs of the educator community. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Illinois. For more information, visit horacemann.com.
Safe Harbor Statement and Non-GAAP Measures
Certain statements included in this news release, including those regarding our earnings outlook, expected catastrophe losses, our investment strategies, our plans to implement additional rate actions, our plans relating to share repurchases and dividends, our efforts to enhance customer experience and expand our products and solutions to more educators, our strategies to create sustainable long-term growth and double-digit ROEs, our strategy to achieve a larger share of the education market, and other business strategies, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on management's current expectations and beliefs concerning future developments and their potential effects upon Horace Mann and its subsidiaries. Horace Mann cautions investors that such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond Horace Mann's control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements included in this document. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in the "Risk Factors" and "Forward-Looking Information" sections included in Horace Mann's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC). The forward-looking statements herein are subject to the risk, among others, that we will be unable to execute our strategy because of market or competitive conditions or other factors. Horace Mann does not undertake to update any particular forward-looking statement included in this document if we later become aware that such statement is not likely to be achieved.
Information contained in this news release include measures which are based on methodologies other than accounting principles generally accepted in the United States of America (GAAP). Reconciliations of non-GAAP measures to the closest GAAP measures are contained in the Appendix to the Investor Supplement and additional descriptions of the non-GAAP measures are contained in the Glossary of Selected Terms included as an exhibit to Horace Mann's SEC filings.
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Brendan Dawal, Vice President, Investor Relations
217-670-8766 | [email protected]