KANSAS CITY, Mo., April 25, 2022 /PRNewswire/ — Kansas City Life Insurance Company’s Board of Directors Declared a Quarterly Dividend of $0.14 per share on April 25, 2022. The dividend will be payable on May 11, 2022to shareholders registered in May 5, 2022.
This amount of the dividend represents a significant reduction in the quarterly dividend paid by the Company since the beginning of 2001. The Board elected to reduce the dividend based on operating losses and the increased pressure on capital that occurred during recent years due to a significant increase in death claims related to the COVID 19 pandemic coupled with the longer term impact of the extremely low interest rate environment.
Newly elected Chairman and CEO, Walter E. Bixbysaid, “We have been consistent in dividend distributions over the past few years despite ongoing operating losses and capital strains. The decision to cut dividends was not taken lightly. We remain committed to providing assured security to our policyholders by maintaining strong capital, while we also strive to meet shareholder expectations and ensure the long-term success of the business. We are confident about Kansas City Life‘s future.
Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is headquartered in Kansas City, Missouri. The principal activity of the Company is to provide financial protection through the sale of life insurance and annuities. The Company operates in 49 states and the District of Colombia. For more information, please visit www.kclife.com.
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SOURCE Kansas City Life Insurance Company