HOUSTON, Jan. 29 /PRNewswire/ -- American General Corporation (NYSE: AGC)
today announced that the board of directors declared a 7% increase in the
quarterly cash dividend on common stock to $.375 per share. The dividend is
payable March 1, 1998 to holders of record as of February 12, 1998. This
brings the annual rate to $1.50 per share.
The dividend will be the company's 277th consecutive quarterly common
dividend paid since 1929 and represents the 23rd consecutive annual increase
in the regular dividend rate.
American General's board of directors also declared a regular quarterly
cash dividend of $.6433 per share on the company's 7% mandatorily convertible
preferred stock. The preferred dividends are payable March 1, 1998 to holders
of record as of February 12, 1998.
American General Corporation is one of the nation's largest diversified
financial services organizations with assets of $81 billion and shareholders'
equity of $7.6 billion. Headquartered in Houston, it is a leading provider of
retirement services, life insurance, and consumer loans to 12 million
customers. American General common stock is listed on the New York, Pacific,
London, and Swiss stock exchanges.
SOURCE American General Corporation
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Related links:
http://www.agc.com
CONTACT:
Investors: Robert D. Mrlik, Vice
President-Investor Relations, 713-831-1137, or David W. Entrekin,
Vice President-Investor Relations, 212-446-3109, or Media: John
E. Pluhowski, Director-Corporate Communications, 713-831-1149,
all of American General Corporation
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
114643
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