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Torchmark Declares Dividend and Reaffirms Stock Repurchase Program
Torchmark Corporation (NYSE: TMK) announced today that the Company's Board of Directors has declared a quarterly dividend of $.11 per share on all of the outstanding common stock of the Company held of record as of the close of business of the Company's transfer agent on October 5, 2005. This dividend will be paid on November 1, 2005.
Also, Torchmark's Board reaffirmed its continued authorization of the Company's stock repurchase program in amounts and timing that Company management, in consultation with the Board, determines to be in the best interest of the Company. By acquiring the Company's shares, the number of shares outstanding is reduced and each remaining outstanding share's percentage interest in the Company's earnings is increased.
Torchmark has repurchased its common stock every year since 1986 except for 1995, the year following the acquisition of American Income Life. Since 1986 the Company has repurchased 138.9 million shares for a total cost of $2.765 billion.
Torchmark Corporation is a holding company specializing in life and supplemental health insurance for "middle income" Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies. Torchmark has several nationally recognized insurance subsidiaries. Globe Life And Accident is a direct-response provider of life insurance known for its administrative efficiencies. American Income Life provides individual life insurance to labor union members. Liberty National Life, one of the oldest traditional life insurers in the Southeast, is the largest life insurer in its home state of Alabama. United American has been a provider of Medicare supplement health insurance since 1966.
SOURCE: Torchmark Corporation
CONTACT: Joyce Lane, Vice President, Investor Relations of Torchmark
Web site: http://www.torchmarkcorp.com/
Company News On-Call: http://www.prnewswire.com/comp/885425.html
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