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PRESS RELEASES

This document is dated February 23, 2012. It may not be accurate after such date and LNC does not undertake to update or keep it accurate after such date.
   
 

Lincoln National Corporation's Board of Directors Declares Quarterly Dividend

PHILADELPHIA, February 23, 2012 — The board of directors of Lincoln National Corporation (NYSE:LNC) declared a quarterly cash dividend of $0.08 per share on the corporation's common shares and $0.75 per share on its $3.00 Cumulative Convertible Preferred Stock Series A. The dividend on the common stock will be payable May 1, 2012, to shareholders of record at the close of business on April 9, 2012. The dividend on the corporation's Series A Preferred Stock will be payable June 5, 2012, to shareholders of record at the close of business on May 15, 2012.

About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $160 billion as of December 31, 2011. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life, disability and dental insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services.

For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.

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For more information:

Investor Contact:
Jim Sjoreen
484 583-1420
E-mail: InvestorRelations@LFG.com

Media Contact:
Laurel O'Brien
484 583-1735
E-mail: MediaRelations@LFG.com




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Hello future.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and insurance
company affiliates, including The Lincoln National Life Insurance Company, Fort Wayne, IN,
and in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY. Variable products
distributed by broker/dealer-affiliate Lincoln Financial Distributors, Inc., Radnor, PA. Securities
and investment advisory services offered through other affiliates. Explore Lincoln.



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