SANTA ANA, Calif., Aug. 28 /PRNewswire-FirstCall/ -- The First American
Corporation (NYSE: FAF), the nation's leading diversified provider of business
information and related products and services, today announced that its board
of directors has approved an increase in the company's quarterly cash dividend
from 10 cents per common share to 15 cents per common share, representing an
increase of 50 percent.
The cash dividend is payable on Oct. 15, 2003, to shareholders of record
as of Sept. 30, 2003. This dividend increase is in addition to a 25 percent
increase made in the fourth quarter of 2002. First American has paid a cash
dividend for each of the last 94 years.
"First American experienced record setting earnings and cash flow during
the first half of 2003, and our board of directors is committed to sharing the
benefits of our strong performance with our shareholders," said Parker S.
Kennedy, president of The First American Corporation. "This dividend increase
underscores the board's confidence in First American's future and management's
ability to effectively implement its strategy for continued success."
The First American Corporation is a Fortune 500 company that traces its
history to 1889. As the nation's leading diversified provider of business
information, the company supplies businesses and consumers with information
resources in connection with the major economic events of people's lives, such
as getting a job; renting an apartment; buying a car, house, boat or airplane;
securing a mortgage; opening or buying a business; and planning for
retirement. The First American Family of Companies, many of which command
leading market share positions in their respective industries, operate within
seven primary business segments including: Title Insurance and Services,
Specialty Insurance, Trust and Other Services, Mortgage Information, Property
Information, Credit Information and Screening Information. With revenues of
$4.70 billion in 2002, First American has nearly 25,000 employees in
approximately 1,400 offices throughout the United States and abroad. More
information about the company and an archive of its press releases can be
found at http://www.firstam.com .
For further information, please contact Thomas A. Klemens, Sr. Executive
Vice President & Chief Financial Officer of The First American Corporation,
+1-714-800-4401.
SOURCE The First American Corporation
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Related links:
http://www.firstam.com
CONTACT:
THOMAS A. KLEMENS, SR. EXECUTIVE VICE
PRESIDENT & CHIEF FINANCIAL OFFICER OF THE FIRST AMERICAN
CORPORATION, +1-714-800-4401
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