Globe Life (GL) will increase its quarterly dividend by 5.3 percent to $0.1975 per share in 2021. This follows a dividend hike of 8.7 percent to $0.1875 per share announced in 2020 by the company formerly known as Torchmark Corporation.
The dividend will be paid on April 30, 2021 to shareholders of record on April 5, 2021. A new annual rate of 79 cents per share yields 0.8% at a stock price of $98.69. The company has now increased its annual dividend for 16 consecutive years.
Globe Life, formerly Torchmark Corporation, is a holding company specializing in life and supplemental health insurance for "middle income" Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies. Torchmark has several nationally recognized insurance subsidiaries. Globe Life And Accident is a direct-response provider of life insurance known for its administrative efficiencies. American Income Life provides individual life insurance to working families. Liberty National Life is one of the oldest traditional life insurers in the Southeast. United American is a consumer-oriented provider of supplemental life and health insurance. Family Heritage Life provides individual supplemental health insurance.