First American Financial Corporation Announces 11 Percent Increase to Quarterly Cash Dividend
Increases Share Repurchase Authorization by $300 million
August 24, 2021, Santa Ana, Calif.
First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced that its board of directors has declared a quarterly cash dividend of 51 cents per common share, an 11 percent increase over the prior level of 46 cents per common share.
The cash dividend is payable on September 15, 2021 to shareholders of record as of September 8, 2021.
The company also announced that its board of directors has increased the size of the company’s share repurchase plan from $300 million to $600 million. Purchases may be made from time to time by the company in the open market at prevailing market prices or in privately negotiated transactions. After this increase in authorization, the company has $472 million of authorization remaining under the plan.
“Our decision to increase the dividend and our repurchase authorization reflects our confidence in the outlook for our business over both the short-term and the long-term,” said Dennis J. Gilmore, chief executive officer at First American Financial Corporation. “It also demonstrates our long-standing commitment to returning capital to stockholders.”
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.1 billion in 2020, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2021, First American was named to the Fortune 100 Best Companies to Work For® list for the sixth consecutive year. More information about the company can be found at www.firstam.com.
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