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Financial highlights for the year 2011:
Total Assets = $37,915,768 (up 5.5%)
Total Shareholders Equity = $16,897,673 (up 1.6%)
Life insurance in force = $13,557,246 (down1.2%)
Total Annuities = $11,946,556 (up 1.1%)
Net Operating Income = $1,194,809 (up 7.4%)
Net Income = $1,056,414 (up 2.4%)
These figures are unaudited. The percentage changes are the difference between 12/31/10 and 12/31/11 figures.
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The Board of Directors has authorized the purchase of Company stock at a price equal to 90% of the last available book value, as prepared on a GAAP basis, adjusted for unpaid declared dividends. Please note that this offer is subject to change. As of December 31, 2011, this adjusted book value is $3.383 per share.
Therefore, the current tender price is $3.04 per share.
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The following semi-annual dividends have been paid during 2011 to stockholders of record at the end of the month preceding payment:
A 9 cent per share dividend paid April 9, 2011.
An 8 cent per share dividend paid October 11, 2011.
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