Kansas City Life Insurance Company reported net income of $1.0 million, or $0.08 per share, in the first quarter of 2010. The company lost $4.5 million, or $0.40 per share, in the same quarter last year.

Kansas City Life Insurance Company attributed the better year over year performance to large decreases in both realized investment losses, and policyholder benefits and expenses.

Kansas City Life Insurance Company also declared its regular quarterly dividend of $0.27 per share to be payable on 5/12/2010 to shareholders of record on 5/6/2010. Using an annual dividend of $1.08 per share, the stock has a yield of 3.5%.

Kansas City Life Insurance Company reported a much improved investment portfolio in the first quarter of 2010. The company had a net unrealized gain in its portfolio of $40.4 million as of 3/31/2010, compared to a net unrealized gain of $0.2 million on 12/31/2009.

Kansas City Life Insurance Company is headquartered in Kansas City, Missouri, and sells life insurance, annuities and other financial products. The company does business in 49 states, and had total life insurance in force of $30.7 billion.