OREANDA-NEWS. FBL Financial Group, Inc. (NYSE: FFG) today announces a five percent increase in its quarterly cash dividend to $0.42 per share, a special cash dividend of $2.00 per share and authorization for the repurchase of up to $50 million of its Class A common stock. FBL Financial Group also named a new Class B director.

“FBL Financial Group has a strong financial foundation with ample excess capital,” said James P. Brannen, Chief Executive Officer of FBL Financial Group, Inc. “Given this foundation and our confidence in Farm Bureau Life Insurance Company, we are committed to returning cash to shareholders as demonstrated by the payment of this special dividend and by increasing our regular quarterly dividend.”

Quarterly Dividend Increase to $0.42 Per Share. FBL Financial Group’s Board of Directors has declared a quarterly cash dividend of $0.42 per share, payable on March 31, 2016 to Class A and Class B common stockholders of record as of March 15, 2016. This represents a five percent increase from the prior quarterly dividend of $0.40 per share paid in December 2015, and reflects an annual indicated dividend rate of $1.68 per share. Based on this dividend rate, FBL Financial Group’s indicated dividend yield is currently 2.9 percent.

Special Cash Dividend of $2.00 Per Share. FBL Financial Group’s Board of Directors has declared a special cash dividend of $2.00 per share, payable on March 31, 2016 to Class A and Class B common stockholders of record as of March 15, 2016. The total amount of the special cash dividend payment is estimated to be approximately $50 million.

Stock Repurchase. The Board of Directors has authorized the repurchase of up to $50 million of FBL Financial Group’s Class A common stock. Under this repurchase program, repurchases may be made in the open market or through privately negotiated transactions, with the timing and terms of the purchases to be determined by management based on market conditions. Completion of the program is dependent on market conditions and other factors. There is no guarantee as to the exact timing of any repurchases or the number of shares, if any, that FBL Financial Group will repurchase. The share repurchase program may be modified or terminated by FBL Financial Group at any time without prior notice.

New Class B Director Named. James Holte has been named to FBL Financial Group’s Board of Directors as a Class B Director, effective March 3, 2016. Holte is President of the Wisconsin Farm Bureau Federation. Holte was elected to the Wisconsin Farm Bureau Federation Board of Directors in 1995 and has served as president of the Wisconsin Farm Bureau Federation since 2013.