First American Financial Corporation (FAF) will raise its quarterly dividend by 10.5 percent to $0.42 per share in 2018. In 2017 the dividend was hiked by 4 cents to 38 cents per share quarterly.

The next cash dividend is payable on September 17, 2018 to shareholders of record as of September 10, 2018. The new $1.68 per share annual dividend yields 3.0% at a stock price of $55.95.

“This increase in the cash dividend reflects our positive, long-term outlook for our business and our steadfast commitment to deliver returns to our shareholders,” said Dennis J. Gilmore, chief executive officer at First American Financial Corporation.

First American Financial Corporation is a provider of title insurance, settlement services and risk solutions for real estate transactions. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. The company offers its products and services directly and through its agents throughout the United States and abroad.