SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 23, 1997
PROTECTIVE LIFE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-12332 95-2492236
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2801 Highway 280 South, Birmingham, Alabama 35223
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (205) 879-9230
N/A
(Former name or former address, if changed since last report.)
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Item 5. Other Events.
On April 23, 1997, Registrant issued a press release with respect to its
earnings which is included as an Exhibit to this Current Report and incorporated
by reference herein.
Item 7. Financial Statements and Exhibits
(c) Exhibits
The following exhibit is included herein.
Exhibit 99: Press Release dated April 23, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PROTECTIVE LIFE CORPORATION
BY /s/Jerry W. DeFoor
Jerry W. DeFoor
Vice President and Controller
Dated: April 29, 1997
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Exhibit Index
Exhibit Number Description Page Number
99. Press Release Dated April 23, 1997
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Exhibit 99
April 23, 1997
For Immediate Release
PROTECTIVE ANNOUNCES RECORD 1Q97 EARNINGS
Protective Life Corporation (NYSE: PL) announced record first quarter
results today. The Company's operating income, which excludes realized
investment gains and related amortization, was $.81 per share in the 1997 first
quarter, a 11% increase over the $.73 per share last year. Consolidated net
income for the first quarter of 1997 was $24.8 million or $.80 per share,
compared to $21.1 million or $.73 per share reported for the 1996 first quarter.
At March 31, 1997, the Company's assets were $8.3 billion. Stockholders'
equity per share was $20.40 (excluding $1.05 per share of unrealized investment
losses resulting from marking the Company's securities to market values).
Operating return on average equity for the twelve months ending March 31,
1997 was 16.2%. (Average equity excludes the effect of unrealized losses on
stockholders' equity.)
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