HOUSTON, Feb. 6 /PRNewswire/ -- American General Corporation (NYSE: AGC)
today announced that the board of directors declared an 8 percent increase in
the quarterly cash dividend on common stock to $.35. The dividend is payable
March 1, 1997 to holders of record as of Feb. 17, 1997. This brings the
annual rate to $1.40 per share.
The dividend will be the company's 273rd consecutive quarterly dividend
paid since 1929 and represents the 22nd 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 percent mandatorily
convertible preferred stock.
American General Corporation is one of the nation's largest diversified
financial services organizations with assets of $66 billion and shareholders'
equity of $5.6 billion. Headquartered in Houston, it is a leading provider of
retirement services, consumer loans and life insurance to nine 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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CONTACT:
Robert D. Mrlik, vice president - investor
relations, 713-831-1137, or John E. Pluhowski, director -
corporate communications, 713-831-1149, both of American General
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