DES MOINES, Iowa (AP) — Principal Financial Group Inc., a retirement fund management and insurance company, said that its board approved the increase of its quarterly cash dividend to 21 cents.

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The Des Moines, Iowa-based company said late Tuesday the new dividend, which represents a 17 percent increase over the company's previous dividend, will be paid on Sept. 28 to shareholders of record as of Sept. 6.

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Principal Financial shares rose 32 cents to $27.10 in morning trading.

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