CHICAGO, Feb. 17 /PRNewswire/ -- The board of directors of Chicago Title
Corporation (NYSE: CTZ) declared a first quarter dividend on its common stock
of $0.34 per share. This dividend will be payable, in cash, on March 15, 1999
to stockholders of record at the close of business on March 1, 1999.
John Rau, Chicago Title's president and chief executive officer stated,
"Our financial strength allows us to continue to pay the highest cash dividend
in the title industry. Coupled with our record earnings performance in 1998,
this underscores management's commitment to delivering long-term value to our
stockholders."
Under the Chicago Title Corporation Dividend Reinvestment/Stock Purchase
Plan, cash dividends can be automatically applied toward the purchase of
additional shares of Chicago Title common stock. Dividends are reinvested
without any brokerage commission or fees. Registered stockholders must
complete an authorization form and mail it to Harris Trust and Savings Bank to
participate in the plan. Harris can be contacted at 877-424-1981.
Chicago Title was spun off by Alleghany Corporation (NYSE: Y) on June 17,
1998 through the distribution of shares of Chicago Title stock to holders of
Alleghany stock. Chicago Title had its first day of regular trading on the
New York Stock Exchange on June 18, 1998.
Chicago Title provides title insurance, escrow and closing services as
well as property valuation, credit information, default management and flood
compliance products through a network of more than 340 offices and
approximately 4,100 agents nationwide. Chicago Title's subsidiaries --
including Chicago Title Insurance Co., Ticor Title Insurance Co. and Security
Union Title Insurance Co. -- issue approximately one in every five title
insurance policies in the United States. Subsidiaries furnishing real
estate-related products include Chicago Title Flood Services Inc., Chicago
Title Credit Services Inc., Chicago Title -- Market Intelligence Inc. and
Chicago Title Field Services Inc.
The statements made in this press release contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934 that involve a number of
uncertainties and risks that could significantly affect current plans and
anticipated actions and Chicago Title's future financial condition and
results. In addition to the matters described in this press release, risk
factors listed from time to time in Chicago Title's reports and filings with
the Securities and Exchange Commission, including the Information Statement
included in its Registration Statement on Form 10 (File No. 1-13995), may
affect the results achieved by Chicago Title.
SOURCE Chicago Title Corporation
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Related links:
http://www.ctt.com
CONTACT:
Analysts, Toshie Davis, 312-223-4788, or
Media, Steve Flanagan, 312-223-2959, both of Chicago Title
Corporation
NOTE TO EDITORS: For more information on Chicago Title
Corporation via fax, free of charge, dial 1-800-PRO-INFO and
enter the ticker "CTZ"
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