CNO Financial Group Announces Increase to Securities Repurchase Authorization
and Provides Repurchase Guidance
CARMEL, Ind., Dec. 18, 2013
CARMEL, Ind., Dec.18, 2013 /PRNewswire/--CNO Financial Group, Inc. (NYSE:
CNO) today announced that its Board of Directors has approved an additional
$300 million to repurchase the company's outstanding common stock and
warrants.As of September 30, 2013, CNO had repurchased $221.6 million of
securities in 2013 at an average price of $11.84 per share and had remaining
repurchase capacity under the buyback program of approximately $128
million.The repurchase program is intended to be implemented through
purchases made from time to time in the open market, through private
transactions or by a tender offer, in accordance with Securities and Exchange
Commission requirements. The amount and timing of the securities repurchases
(if any) will be based on business and market conditions and other factors.
In addition, the company is providing the following securities repurchase
oFull year 2013 repurchases in the $250 million range
o2014 repurchases of $225 million to $300 million
The company will provide additional information and other select 2014 guidance
during the 2014 Outlook conference call today at 2:00 p.m. (EST). There will
be a live webcast of the presentation, including presentation materials,
available on the Investors section of the company's website
http://ir.CNOinc.com. Participants should go to the website at least 15
minutes before the event to register and download any necessary audio.
About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) is a holding company. Our insurance
subsidiaries – principally Bankers Life and Casualty Company, Colonial Penn
Life Insurance Company and Washington National Insurance Company – primarily
serve middle-income pre-retiree and retired Americans by helping them protect
against financial adversity and provide for a more secure retirement. For
more information, visit CNO online at www.CNOinc.com.
SOURCE CNO Financial Group, Inc.
Contact: (News Media) Barbara Ciesemier, +1.312.396.7461, or (Investors) Erik
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