McKINNEY (July 3, 2014) – As previously announced on April 29, Torchmark Corporation's (NYSE: TMK) Board of Directors declared a 3-for-2 partial stock split paid in the form of a 50% stock dividend on all the Company's outstanding common stock.
The record date for the 3-for-2 stock split was the close of business on June 2 and the broker cut-off date was June 9. On July 1, the payment date, holders of Torchmark common stock on the record date received one additional share of stock for each two shares held on the record date. Cash was paid in lieu of fractional shares. The change in stock price resulting from the split was reflected when the market opened on July 2.
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 working families. 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. Family Heritage Life provides individual supplemental health insurance.