CHICAGO, April 28 /PRNewswire/ -- The board of directors of Chicago Title
Corporation (NYSE: CTZ) declared a second quarter dividend on its common stock
of $0.36 per share. This represents a six percent increase from the previous
quarterly dividend rate of $0.34 per share. The second quarter dividend will
be payable, in cash, on June 15, 1999 to stockholders of record at the close
of business on June 1, 1999.
John Rau, Chicago Title's president and chief executive officer stated,
"The Board's action follows our recent announcement of record first quarter
earnings. This dividend increase, along with the stock repurchase program
announced last month, reflects our belief in Chicago Title's fundamental
strength and future."
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 Corporation is a leading national real estate services
company that provides a full range of services required to complete real
estate transactions. With over 340 full service offices, 10,000 employees and
4,100 policy-issuing agents nationwide, it provides title insurance, escrow,
closing services, property valuation, credit reporting, flood compliance, home
warranty, default management and real estate information and technology
services. Chicago Title is the parent of Chicago Title and Trust Company,
whose subsidiaries include Chicago Title Insurance Company, Ticor Title
Insurance Company and Security Union Title Insurance Company. A comprehensive
package of real estate services is available through CastleLink(SM), which
delivers title products as well as the products of Chicago Title Flood
Services Inc., Chicago Title Credit Services Inc., Chicago Title-Market
Intelligence Inc., Chicago Title Field Services Inc. and Consolidated
Reconveyance.
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) and
furnished to the stockholders of Chicago Title's former parent Alleghany
Corporation in connection with the spin-off of Chicago Title by Alleghany, may
affect the results achieved by Chicago Title.
SOURCE Chicago Title Corporation
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Related links:
http://www.ctt.com
CONTACT:
Toshie Y. Davis, Vice President, Investor
Relations, 312-223-4788, or Barbara Harms, Vice President,
Corporate Communications, 312-223-2461, both of Chicago Title
Corporation
NOTE TO EDITORS: For further information on Chicago Title's
products and services, visit our web site at http://www.ctt.com
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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