Conseco declares two-for-one stock split.CARMEL Car·mel also Car·mel-by-the-Sea A city of western California on Carmel Bay at the southern end of the Monterey Peninsula. It is an artists' and writers' colony and a popular tourist spot. Population: 4,130. , Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. .--(BUSINESS WIRE)--Jan. 15, 1997--Conseco, Inc. (NYSE NYSE See: New York Stock Exchange :CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) today announced a two-for-one split of its common stock. The split will be paid Feb. 11, 1997, to holders of record at the close of business on Jan. 27, 1997. The split will be effected by issuing one additional share of common stock for each share outstanding on the record date. Conseco Conseco (NYSE: CNO), originally Security Life of Indiana, is a financial services organization based in Carmel, Indiana. Conseco's insurance subsidiaries provide life insurance, annuity and supplemental health insurance products to more than 4 million customers in the said it currently plans no change in the indicated quarterly cash dividend rate of 3-1/8 cents per post-split share. Conseco Chairman Stephen C. Hilbert said, "The Board action on the split, our fourth two-for-one split since 1991, reflects our confidence in Conseco's future, as well as our desire for Conseco shares to continue to be affordable for a broader range of investors. "In 1985, when Conseco became a public company," Hilbert said, "we had just $104 million in assets and a brand-new mission: to be more efficient than other insurance companies; to actively manage our investments to generate greater returns with no additional risk; to develop products that meet real market needs -- and find more effective channels for distributing them. In short, to lead the process of change in the insurance industry. Today, we are many times larger -- a member of both the Fortune 500 and the Standard & Poor's 500 Index -- but our mission hasn't changed. And since our officers, directors and employees have a 24 percent stake in the company, all shareholders can be assured of our focus on maximizing shareholder returns." Conseco is a 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. organization headquartered in Carmel, Ind. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities and universal life insurance. CONTACT: Conseco, Inc., Carmel Jim Rosensteele, 317/817-2893 E-mail: ir@conseco.com |
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