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): May 22, 2001
FINANCIAL INDUSTRIES CORPORATION
(Exact name of Registrant as specified in charter)
Texas 0-4690 74-2126975
(State or other jurisdiction (Commission file number) (I.R.S. employer
of incorporation) identification no.)
6500 River Place Blvd., Building One
Austin, Texas 78730
(Address of principal executive offices)
Registrant's telephone number, including area code: (512) 404-5000
Item 5.Other Events
On May 22, 2001, Financial Industries Corporation (FIC) announced that its
Board has approved a dividend policy. The policy adopted by the Board
anticipates that the Company will declare and pay, on a semi-annual basis, a
dividend on the common stock of the Company so as to provide to shareholders
with an annualized yield of approximately 3% on the market value (based on the
NASDAQ National Market quotation system). The implementation of this policy and
the future declarations of dividends are subject to change depending on future
circumstances.
In its press release of May 22, 2001, the Company also stated that, as
previously reported, in response to unsolicited verbal communications from a few
companies that were interested in acquiring FIC, Philo Smith Capital Corporation
was retained by FIC to explore the possible sale of the company. Subsequently,
FIC received an indication of interest which led to further discussions with a
potential purchaser. FIC has now determined not to pursue further discussions
with any party that has submitted an indication of interest to acquire the
company.
Exhibits.
99.1* - Press Release dated May 22, 2001.
______________
* Filed herewith
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 hereunto duly authorized.
FINANCIAL INDUSTRIES
CORPORATION
Date: June 8, 2001 By: /s/ Roy F. Mitte
Roy F. Mitte
Chairman, President and Chief
Executive Officer
Exhibit 99.1
FOR MORE INFORMATION CONTACT
Robert S. Cox
512-404-5128
FINANCIAL INDUSTRIES CORPORATION
ANNOUNCES SEMI-ANNUAL CASH DIVIDEND AND DIVIDEND POLICY
UPDATES SALE NEGOTIATIONS
AUSTIN, TEXAS -- Financial Industries Corporation (FIC) today announced that its
Board of Directors has approved the payment of a semi-annual cash dividend in
the amount of $.25 per common share. The dividend is payable on July 2, 2001, to
record holders as of the close of business on June 18, 2001. The dividend is
payable with respect to each share of common stock which is issued on the record
date, except for shares owned directly by FIC.
FIC also announced that its Board has approved a dividend policy. The policy
adopted by the Board anticipates that the Company will declare and pay, on a
semi-annual basis, a dividend on the common stock of the Company so as to
provide to shareholders with an annualized yield of approximately 3% on the
market value (based on the NASDAQ National Market quotation system). The
implementation of this policy and the future declarations of dividends are
subject to change depending on future circumstances.
As previously reported, in response to unsolicited verbal communications from a
few companies that were interested in acquiring FIC, Philo Smith Capital
Corporation was retained by FIC to explore the possible sale of the company.
Subsequently, FIC received an indication of interest which led to further
discussions with a potential purchaser. FIC has now determined not to pursue
further discussions with any party that has submitted an indication of interest
to acquire the company.
The information in this release relating to the Company's operations and
financial results, future business developments, and contingencies and
uncertainties constitute forward-looking statements under the Private Securities
Litigation Reform Act of 1995.
The Company's NASDAQ symbol is FNIN. For more information on FIC, go to
http://www.ficgroup.com on the Internet