AFLAC Incorporated Reports Record Fourth Quarter Results
AFLAC Incorporated, a leading underwriter of supplemental insurance, today announced record fourth quarter results. The company's operating earnings of $77.8 million, excluding realized investment gains/losses, were the best in its history. This feat was achieved despite challenges posed by Japan's sluggish economy and low investment yields in the country. AFLAC's total revenues for the quarter rose 22.6% to $1.6 billion, and the company's operating earnings per share increased 23.5% to $2.84, compared with $2.30 in 1993.
Key Takeaways:
- AFLAC's operating earnings of $77.8 million in the fourth quarter were the highest in the company's history.
- Operating earnings per share increased 23.5% to $2.84, compared with $2.30 in 1993.
- Total revenues in the fourth quarter rose 22.6% to $1.6 billion.
- For the year, total revenues increased 22.2% to $6.1 billion.
- AFLAC's board of directors declared the first quarter cash dividend of $0.115 per share.
- The dividend is payable on March 1, 1995, to shareholders of record at the close of business on February 17, 1995.
- President and Chief Executive Officer Daniel P. Amos stated that the company is pleased with its performance in 1994, despite facing challenges such as Japan's sluggish economy.
- AFLAC is one of the world's leading underwriters of supplemental insurance, with primary markets in the United States and Japan.
- The company also owns seven network-affiliated television stations.
Statistics:
- Operating earnings: $77.8 million (fourth quarter), $293.1 million (full year)
- Operating earnings per share: $0.62 (fourth quarter of 1993), $2.84 (full year)
- Total revenues: $1.6 billion (fourth quarter), $6.1 billion (full year)
- Cash dividend: $0.115 per share, payable on March 1, 1995
- Number of shares used to compute earnings: Not specified
Sources:
- PRNewswire press release, January 30, 1995
- AFLAC Incorporated website
- Annual Report 1993 (AFLAC Incorporated)