Principal Financial Group Inc. announced that its board of directors has declared a quarterly dividend of $0.23 per share of common stock, an increase of 10% over the fourth quarter 2012 dividend. The dividend will be payable on March 29, 2013 to shareholders of record as of March 11, 2013.

The company announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported operating earnings of $243.9 million compared to $201.8 million for fourth quarter 2011. Operating earnings per diluted share were $0.82 compared to $0.66 for fourth quarter 2011. The company reported net income available to common stockholders of $218.6 million, or $0.74 per diluted share compared to $148.5 million or $0.48 per diluted share for fourth quarter 2011, reflecting a strong increase in operating earnings and improvement in credit-related losses. Operating revenues were $2,293.1 million compared to $2,103.3 million for the same period last year. Total GAAP revenues were $2,295.9 million compared to $2,058.8 million for the same period last year. The company achieved a 16% increase in total company adjusted operating earnings per share compared to fourth quarter 2011.

For the year, the company reported operating earnings of $808.0 million compared to $843.8 million for the same period last year. Operating earnings per diluted share were $2.69 compared to $2.66 for the same period last year. Adjusted operating earnings were $898.7 million, an increase of 7% over full-year 2011. Adjusted 2012 EPS of $2.992 is up 12% over reported EPS of $2.66 for 2011 . The company reported net income available to common stockholders of $772.9 million, or $2.57 per diluted share compared to $619.7 million or $1.95 per diluted share for the same period last year. Operating revenues were $9,175.4 million compared to $8,281.0 million for the same period last year. Book value per common share was $31.35 as on December 31, 2012 compared to $28.15 as on December 31, 2011. Total GAAP revenues were $9,215.1 million compared to $8,670.7 million for the same period last year. 2012 reported return on equity of 9.6% was negatively impacted by the third quarter actuarial assumption review. Adjusting for this, return on equity was 10.7% in 2012, up 50 basis points from 2011 despite the macroeconomic challenges. Book value per common share excluding accumulated other comprehensive income was $29.20 as on December 31, 2012 compared to $27.29 as on December 31, 2011.