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AFLAC INCORPORATED REPORTS RECORD FIRST QUARTER EARNINGS, INCREASES SECOND QUARTER CASH DIVIDEND

 AFLAC INCORPORATED REPORTS RECORD FIRST QUARTER EARNINGS,
 INCREASES SECOND QUARTER CASH DIVIDEND
 COLUMBUS, Ga., April 27 /PRNewswire/ -- AFLAC Incorporated (NYSE: ALC; TSE) today reported record first quarter results.
 Operating earnings of $42.2 million (excluding realized investment gains/losses) were the best in the company's history. Operating earnings per share increased 26.8 percent to $.52, compared to $.41 a year ago. Net earnings (including realized investment gains/losses) were $42.4 million, or $.52 per share. Total revenues in the first quarter rose 21.1 percent to $934.5 million.
 The board of directors also increased the quarterly cash dividend from $.10 to $.11 per share. Historically, the board has considered a cash dividend increase in the fourth quarter of each year. In 1992, the board of directors elected to increase the dividend earlier in the year. The second quarter cash dividend payment is payable on June 1 to stockholders of record at the close of business on May 15. This marks the 10th consecutive year the dividend has been increased and the company's 75th consecutive quarterly cash dividend.
 President and Chief Executive Officer Daniel P. Amos stated: "We are pleased with AFLAC's record performance in the first quarter of 1992 and excited about the opportunities for AFLAC's continued rapid growth in our two primary markets. The need for high-quality, affordable supplemental health insurance protection is greater than ever before. The board of directors' decision to increase the cash dividend is a reflection of this optimism."
 AFLAC Incorporated is an international holding company. Through its principal subsidiary, American Family Life Assurance Company (AFLAC), the company is one of the world's leading underwriters of supplemental health insurance. AFLAC's primary markets are the United States and Japan. The company also owns seven network-affiliated television stations.
 AFLAC INCORPORATED AND SUBSIDIARIES
 Consolidated Summary of Earnings
 (Unaudited -- $000 omitted, except for per-share amounts)
 Pct.
 3 mos. ended March 31 1992 1991 chg.
 Total revenues $ 934,466 $ 771,405 21.1
 Operating earnings (excluding
 net realized investment gains/
 losses)(a) 42,194 33,637 25.4
 Operating earnings per share(a) .52 .41 26.8
 Net earnings (including net
 realized investment gains/losses) 42,397 33,713 25.8
 Net earnings per share .52 .41 26.8
 Cash dividends per share .10 .09 11.1
 Number of shares used to compute
 earnings per share (000) 81,885 81,509 ---
 (a) Management of the company believes that operating earnings per share (excluding realized investment gains/losses) are more meaningful in analyzing the operating performance and trends of the company. Thus, for comparative purposes, operating earnings are also shown.
 -0- 4/27/92
 /CONTACT: Kenneth S. Janke Jr., vice president - Investor Relations of AFLAC Incorporated, 800-235-2667/
 (AFL) CO: American Family Corporation ST: Georgia IN: INS SU: ERN DIV


EA-BR -- AT003 -- 2987 04/27/92 09:33 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 27, 1992
Words:470
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