Please welcome Rick Williams. Good morning. Welcome to the 2019 annual meeting of stockholders of Primerica. I am Rick Williams, Chairman of the Board. I now call this meeting to order. The Board has appointed Ms. Debra Baker to act as our Inspector of Elections. Ms. Baker, please stand. Thank you. At this time, I am pleased to introduce our directors. Please stand as I call your name and remain standing until all the directors are introduced. John Addison, CEO of Addison Leadership Group and former Co-Chief Executive Officer. Joel Babbit, Co-Founder and Chief Executive Officer of Narrative Content Group. George Benson, former President of the College of Charleston and our Lead Director. Senator Saxby Chambliss, a Partner of the law firm of DLA Piper. Gary Crittenden, a private investor and former Managing Partner and Chairman of HGGC.
Cynthia Day, the President and CEO of Citizens Bancshares Corporation and Citizens Trust Bank. Beatriz Perez, SVP and Chief Communications, Public Affairs, Sustainability, and Marketing Assets Officer for The Coca-Cola Company. Glenn Williams, the company's Chief Executive Officer. Barbara Yastine, former Chairman and CEO of Ally Bank. Thank you. I would also like to recognize Mark Mason, who has been a Director of the company since March 2010. He joined the Board of Directors upon completion of our initial public offering. Mark will not be standing for re-election as he has recently become Chief Financial Officer of Citigroup Inc. Although Mark could not be with us today, we would like to thank him for his years of distinguished service and congratulate him on his new role.
Seated to my left is Stacey Geer, Executive Vice President, Deputy General Counsel, Chief Governance Officer, and Corporate Secretary of the company, who will act as Secretary of this meeting. I would also like to introduce our other senior executives who are with us today. Peter Schneider is our President. Greg Pitts is our Executive Vice President and Chief Operating Officer. Alison Rand is our Executive Vice President and Chief Financial Officer. Thank you. At this time, I am pleased to introduce Scott Stein of our independent registered public accounting firm, KPMG. Thank you, Scott. The Inspector of Elections has reported that the holders of at least 93.7% of the outstanding shares of common stock as of the record date are present in person or represented by proxy. A quorum is present, and the meeting is duly convened.
Each of you were provided with a copy of the agenda and procedures for conducting today's meeting. If you did not receive one, please raise your hand and you will be provided with a copy. According to Ms. Geer, notice of the meeting was distributed on or about April 5th, 2019, to all stockholders of record on March 20, 2019. A list of all stockholders of record as of that date is available for inspection by stockholders at any time during the meeting. There are three matters for consideration today. These matters are listed in the notice of annual meeting that is attached to the proxy statement. Under our bylaws, certain procedures must be followed for Director nominees and other business proposals to be brought before the meeting. No nominations or other proposals have been received other than those described in the proxy statement.
Nominations for directors are closed and no proposal other than those described in the proxy may come before the meeting. Only holders of the common stock on March 20th, 2019, the record date for this meeting, or persons holding a valid proxy for such shares may address the meeting. If you are a record holder and you have voted by proxy, you do not need to complete a ballot in person at this meeting. If you wish to revoke a proxy previously submitted and vote in person, or if you have not previously submitted a proxy and wish to vote in person, please raise your hand and a ballot will be brought to you. It is now 10:04 A.M., the polls are now open for anyone who wants to cast a vote or change an earlier vote.
The stockholders will consider the proposal in our proxy statement to elect 10 directors to serve until the annual meeting of stockholders in 2020. Information about each nominee is contained in the proxy statement, along with the recommendation of the board for the election of our 10 nominees. Is there any discussion on this slate of directors? Please raise your hand and a microphone will be brought to you. I see that there are no questions at this time. The stockholders will consider the proposal in our proxy statement to approve, on an advisory basis, our executive compensation say on pay. Is there any discussion of this proposal? Please raise your hand and a microphone will be brought to you. I see that there are no questions at this time.
The final item of business is consideration of a proposal to ratify the appointment by the audit committee of KPMG LLP as the company's independent registered accounting firm to audit the financial statements, books, and records of the company for the fiscal year ending December 31st, 2019. Mr. Stein of KPMG is available to answer questions. Is there any discussion on this proposal? I see that there are no questions at this time. I hereby declare the polls on the matters presented at this meeting are now closed as of 10:05 A.M. today and will be held in the possession of the Inspector of Elections. The Inspector of Elections will now count the votes. Glenn Williams, our CEO, will now make a few remarks.
Thank you, Rick. Good morning, everyone. I'm pleased to report another year of strong performance for Primerica in 2018. With a year of near record recruiting and life licensing, we continued to grow our distribution capabilities, achieving a 4% increase in the number of life insurance licensed representatives to a total of over 130,000, and a 4% increase in Mutual Funds licensed representatives to more than 25,000. Our strong distribution capabilities led to significant sales results in both Term Life Insurance and Investment and Savings Products. Again, in 2018, Term Life face amount sales exceeded $95 billion, driving our in-force total to $751 billion. ISP sales set an annual record of $7 billion, and our assets under management ended the year at $57.7 billion. These distribution and sales results helped drive strong financial performance.
Total revenues in 2018 reached $1.9 billion, resulting in a five-year compounded annual growth rate of 9%. Adjusted net operating revenues reached $324 million for the full year of 2018, creating a five-year compound annual growth rate of 15%. In 2018, we continued to successfully execute our capital deployment strategy. After paying a total of $44 million in stockholder dividends during 2018, we increased the quarterly dividend to $0.34 per share for the first quarter of 2019, an increase of 36%. We also repurchased $210 million of common stock in 2018 and announced board approval of a $275 million share repurchase program with a goal to repurchase $225 million in 2019. This strong performance has resulted in a total stockholder return of 141% over the last five years, significantly outperforming the Standard & Poor's 500 index during the same period.
Thank you for your continued confidence in Primerica as we work to meet the financial needs of middle-income families across North America.
Thank you, Glenn. We will now report on the results of the voting. Ms. Geer, do you have the preliminary report of the inspector?
Yes, I do. The inspector reports that more than 93% of the votes cast at this meeting have been voted for the election of each of the 10 directors recommended and nominated. More than 99% of the votes cast at this meeting have been voted on an advisory basis in favor of our executive compensation. More than 99% of the votes cast at this meeting have been voted for the ratification of the appointment of KPMG as the company's independent registered public accounting firm for the 2019 fiscal year. The inspector will furnish me with a written report of the final vote count with respect to these matters, which will be included in the minutes of this meeting.
Final results, including the results for each director nominee, will be included in a Form 8-K to be filed with the SEC within four business days. It will be posted on our investor relations website.
Thank you, Ms. Geer. I declare that the report of the inspector is approved and that based on the preliminary results, the nominees for directors have been duly elected, the advisory vote on executive compensation has been approved, and the appointment of KPMG for the fiscal year 2019 has been ratified. Glenn Williams and I will now begin the question and answer period. Glenn, please join me on stage. If you are a stockholder and wish to ask a question, please raise your hand and a microphone will be brought to you. Please state your name and the number of shares you own for which you hold a valid proxy. If you represent an institutional owner, please also state the name of your firm.
Please adhere to the two-minute time period and the limit of two questions per stockholder as described in the meeting procedures as a courtesy to all present. If there are no questions, I would like to again thank you for your support and continued confidence in Primerica. The 2019 annual meeting of stockholders of Primerica is hereby adjourned. The meeting is adjourned for 15 minutes. Well, no. Adjourned. Thank you.