US-based Principal Financial Group has reported a net income of $164m,or, $0.54 per diluted share, for the fourth quarter of 2011, compared to $199.3m or $0.62 per diluted share, for the same period in 2010.
Operating earnings increased to $217.1m, or $0.71 per diluted share, for the fourth quarter of 2011, compared to $214.1m, or $0.66 per diluted share, for the same period a year ago.
Total operating revenue decreased to $2.1bn, compared to $2.11bn for the same period in the prior year.
Principal Financial Group SVP and CFO Terry Lillis said that between their three strategic international acquisitions, opportunistic share buyback and increased common stock dividend they were able to deploy more than $1.1 billion in capital in 2011.
"With $1.6bn of excess capital at year end and a strong balance sheet, they continue to have financial flexibility and strength to invest in their businesses and return capital to shareholders," added Lillis.