The First American Financial Corporation board of directors move to increase ...


The board of directors of the First American Financial Corporation (NASDAQ: FAMR) at its meeting on April 28, 1993, moved to increase the company's dividend from the current annual rate of 45 cents per share to 50 cents, an increase of 11 percent. Last December, the company raised the dividend from the annual rate of 40 cents where it had been since 1989.

A quarterly dividend of 12.5 cents per share was declared, payable July 15, 1993 to shareholders of record as of June 25, 1993.

"The board stressed that this dividend increase reflects their satisfaction with the first quarter results and represents a confirmation of their confidence in the future progress and earnings of the company," said D.P. Kennedy, chairman of the board.

The company has paid a cash dividend every year since 1909.

The First American Financial Corporation, based in Santa Ana, Calif., is a leading provider of real estate financial services, including title insurance, tax monitoring and home warranty services, to real property buyers and mortgage lenders. The company also operates a trust and banking business in Southern California. The company offers its title services through a network of more than 300 offices and 4,000 agents in all 50 states. It also provides title services abroad in the Bahamas, Bermuda, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and the United Kingdom.


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