The board of directors at Genworth Financial, Inc. today raised the regular quarterly dividend for its Class A and Class B Common Stock to $0.075, an increase of 15 percent over the previous quarterly rate of $0.065. The quarterly dividend is payable on October 27, 2005 to shareholders of record as of October 12, 2005.
"This 15 percent increase in our dividend reflects our strong earnings performance and excellent progress on our strategic growth initiatives," said Michael D. Fraizer, chairman and chief executive officer. "As we look at capital deployment across our organization, this dividend increase demonstrates our ability to fund internal growth while at the same time providing a solid increase in yield to investors."
The company also affirmed its guidance for net operating earnings per share and operating return on equity (ROE) given in its earnings release dated July 28, 2005 and during its publicly web cast earnings call held on July 29, 2005.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company's future business and financial performance. Forward- looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors, including those identified in our earnings release dated July 28, 2005.
The company undertakes no obligation to publicly update any forward- looking statement, whether as a result of new information, future developments or otherwise. This press release also includes references to the non-GAAP financial measures entitled "net operating earnings" and "operating return on equity". Information about these non-GAAP financial measures is available in our earnings release dated July 28, 2005, available at http://investor.genworth.com/.
About Genworth Financial
SOURCE: Genworth Financial
CONTACT: Investors: Alicia Charity, +1-804-662-2248, or
Web site: http://www.genworth.com/