Torchmark Corporation Declares Dividend and Resumes Stock Repurchases
By Torchmark Corporation, PRNESunday, February 28, 2010
MCKINNEY, Texas, March 1, 2010 - Torchmark Corporation (NYSE: TMK) announced that its Board of Directors
has declared a quarterly dividend of US$.15 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 April 2, 2010. The dividend will
be paid on April 30, 2010.
Torchmark also announced that its Board of Directors has authorized
resumption of the Company's common stock repurchase program, which was
suspended in the first quarter of 2009 in light of economic conditions at
that time. With the improvement in the Company's capital position, including
a higher than anticipated 355% consolidated risk based capital ratio in its
subsidiaries, the Board of Directors concurred with management's
recommendation that common stock be repurchased in amounts and at such times
as management, in consultation with the Board, determines to be in the best
interest of the Company. This repurchase program has no defined expiration
date or maximum amount of shares to be repurchased.
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 is one of the oldest traditional life insurers in the Southeast. United
American is a consumer-oriented provider of supplemental life and health
insurance.
Mike Majors, Vice President, Investor Relations, +1-972-569-3627, Fax, +1-972-569-3282, tmkir at torchmarkcorp.com
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