First American Financial Corporation (FAF) will raise its quarterly dividend by another 4.5 percent to $0.46 per share in 2020. This is the second dividend hike announced this year by the provider of title insurance, settlement services and risk solutions for real estate transactions.
The next cash dividend is payable on December 15, 2020 to shareholders of record as of December 8, 2020. The new $1.84 per share annual dividend yields 3.8% at a stock price of $48.60.
“Our decision to increase the dividend reflects our confidence in the strength of our business over both the short-term and the long-term,” said Dennis J. Gilmore, chief executive officer at First American Financial Corporation. “It also demonstrates our continuing commitment to return capital to our stockholders.”
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.