FBL reports higher quarterly earnings
May 10, 2016 by Business Record
FBL Financial Group Inc. today reported net income for the first quarter of 2016 of $25.9 million, or $1.04 per share, compared with $23.6 million, or 94 cents per share, for the first quarter of 2015. Operating income, which excludes the impact of realized gains and losses on investments and the change in net unrealized gains and losses on derivatives, totaled $26.3 million, or $1.05 per share, for the first quarter of 2016, compared with $23.8 million, or 95 cents per common share, a year ago. CEO James Brannen said that FBL’s Farm Bureau Life business continues to produce consistent growth, and that annuity premiums collected in the first quarter increased 12 percent over the year-ago quarter. The company returned $60 million of capital to shareholders in the first quarter with a $2 per share special dividend and an increased regular dividend of 42 cents per share.
