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CAPITAL HOLDING STOCKHOLDERS RE-ELECT DIRECTORS; APPROVE PROPOSALS AT ANNUAL MEETING

 CAPITAL HOLDING STOCKHOLDERS RE-ELECT DIRECTORS;
 APPROVE PROPOSALS AT ANNUAL MEETING
 LOUISVILLE, Ky., May 1 /PRNewswire/ -- Stockholders of Capital Holding Corporation (NYSE: CPH) approved the re-election of five directors to the company's board during the company's annual meeting today.
 Directors re-elected to three-year terms are: John M. Cranor III, 45, president and chief executive officer of KFC Corporation; J. David Grissom, 53, chairman of Mayfair Capital; F. Warren McFarlan, 54, professor of business administration, Harvard Business School; Martha R. Seger, Ph.D., 60, financial economist; and Florence R. Skelly, 67, president, Telematics, Inc.
 Stockholders also approved proposals to adopt the company's Stock Ownership Plan and to ratify the appointment of Ernst & Young as the company's independent auditors. A proposal to increase the amount of the company's preferred stock was withdrawn.
 In his remarks to the company's stockholders, Capital Holding Chairman, President and Chief Executive Officer Irving W. Bailey II said, "By each of the measures which are commonly used to determine how a company performs for its stockholders, Capital Holding has performed well. We have provided handsome returns to our stockholders in the past, and we plan to provide excellent shareholder value in the future.
 "Last year Capital Holding reported return on equity of just over 17 percent, which is among the highest in our industry. And, despite the uncertainties in the economy, we delivered a very respectable 12 percent increase in operating earnings," Bailey said.
 Bailey also noted that since 1987, total return to Capital Holding shareholders, including cash dividends received as well as appreciation in stock holdings, has been 18.9 percent annually. "That compares very favorably against both the stock market as a whole and the Standard & Poor's Life Stocks in recent years," Bailey said.
 Following the annual meeting, the company's board of directors declared a quarterly cash dividend of 33 cents per share of outstanding common stock, payable on June 15, 1992 to holders of record on June 1.
 A quarterly cash dividend of $1.6875 per share will be payable on the company's Adjustable-Rate Preferred Stock, Series F, on July 15, 1992 to holders of record on June 30. The dividend represents an annualized rate of 6.75 percent. Under the terms of the preferred stock, the rate cannot be less than 6.75 percent nor greater than 14 percent.
 The board also declared a quarterly dividend of $1.00 per share of outstanding stock for the company's Non-Cumulative, Convertible, Junior Preferred Stock, Series J. The dividend will be payable on June 15, 1992 to holders of record on June 1. The preferred stock, issued in 1991 as part of Capital Holding's acquisition of Durham Corporation, pays an annual dividend of $4.00 per share.
 Capital Holding is one of the nation's five largest shareholder-owned life insurance organizations, with $19.7 billion in assets and $55 1 billion of life insurance coverage in force.
 The corporation offers a broad range of financial services and products through agents, direct-marketing media, investment professional nd retail locations. Its common stock is listed on the New York and Pacific Stock Exchanges under the ticker symbol CPH; its preferred tock is listed on the New York Stock Exchange under the symbol CPHF.
 -0- 5/1/92
 /CONTACT: Steve Wilson, 502-560-2723, or Bonnie Otto, 502-560-3019, both of Capital Holding Corporation/
 (CPH) CO: Capital Holding Corporation ST: Kentucky IN: INS SU: PER DIV


DF -- CH005 -- 5512 05/01/92 13:46 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:569
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