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Torchmark Elects New Director and Declares Dividend
Torchmark Corporation (NYSE: TMK) announced today that Charles E. (Eddie) Adair of Montgomery, Alabama, has been elected to the Company's Board of Directors. Mr. Adair, 55, is a Partner in Cordova Ventures, a venture capital management company headquartered in Atlanta, Georgia. A graduate of the University of Alabama and the Advanced Management Program at the Harvard Business School, Mr. Adair began his business career as a Certified Public Accountant with Haskins & Sells in Birmingham. In 1973 he joined Durr-Fillauer Medical, Inc., a pharmaceuticals and medical supplies distributor in Montgomery, and he was President, Chief Operating Officer and member of the Board of Directors at the time of Durr-Fillauer's sale in 1992. He joined Cordova Ventures in 1992. Mr. Adair is also currently a member of the Board of Directors of three publicly-held companies, Tech Data Corporation, Performance Food Group Company, and PSS World Medical, Inc. Additionally, he serves as a member of the Boards of Sterling Bank and Jenkins Brick Company in Montgomery, and the Board of UAB Health System in Birmingham.
At its April 24, 2003 meeting, the Torchmark Board of Directors also declared a quarterly dividend of $.09 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 July 3, 2003. This dividend will be paid on August 1, 2003.
Torchmark Corporation is an insurance 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. Subsidiary Globe Life and Accident is a nationally recognized direct-response provider of life insurance known for its administrative efficiencies. United American has been a nationally recognized provider of Medicare supplement health insurance since 1966. Liberty National Life, one of the oldest traditional life insurers in the Southeast, is the largest life insurer in its home state of Alabama. American Income Life is nationally recognized for providing supplemental life insurance to labor union members.
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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