Conseco Shareholders Elect Three Directors, Approve Deferred Compensation Plan.CARMEL, Ind.--(BUSINESS WIRE)--May 30, 1995--Shareholders of Conseco, Inc. (NYSE NYSE See: New York Stock Exchange : CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) at the company's annual meeting today elected three directors to serve terms expiring in 1998: Stephen C. Hilbert, Conseco's chairman, president and chief executive officer; Ngaire E. Cuneo, Conseco's executive vice president of corporate development; and M. Phil Hathaway, the retired former treasurer of Cook Group, Inc. (Terms for Conseco's five other directors expire in either 1996 or 1997.) Shareholders, by a wide margin, also approved the company's deferred compensation plan, which is intended to provide incentives to increase the personal financial identification of key personnel with the long-term growth of the company and the interest of the company's shareholders. Conseco's stockholder meeting was held in Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, , home of The Statesman Group of life insurance companies. Statesman was acquired by Conseco Capital Partners II, L.P. in September 1994. As expected, Conseco's board of directors today declared a dividend on its common stock of 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , payable July 3, 1995, to holders of record on June 20, 1995. Conseco announced in March that it planned to reduce its quarterly cash dividend to 2 cents from 12-1/2 cents, beginning with the July dividend, stating that management feels that Conseco can best maximize shareholder value by reinvesting its earnings for future growth. The regular quarterly dividend of 81-1/2 cents per share was also declared on the company's Series D Convertible Preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , payable July 15, 1995, to holders of record July 1. Conseco, headquartered in Carmel, Ind., owns, operates and provides services to companies in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry (primarily life insurance companies, to date). Conseco generates earnings by: (1) operating life insurance companies; (2) providing investment management, administrative and other services to affiliates and non-affiliates for fees; and (3) acquiring and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). life insurance companies in partnership with other investors. CONTACT: Conseco, Carmel James W. Rosensteele, 317/817-2893 (VP-Investor Relations) |
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