First American Financial Corporation (FAF) will raise its quarterly dividend by 10.9 percent to 51 cents per share in 2021. This follows a double dividend hike in 2020 for a total increase of almost 10 percent. The provider of title insurance, settlement services and risk solutions for real estate transactions has now raised its dividend 10 straight years.
The next cash dividend is payable on September 15, 2021 to FAF shareholders of record as of September 8, 2021. The new $2.04 per share annual dividend yields 2.7% at a stock price of $69.30. The next ex-dividend date for FAF is September 7, 2021.
“Our decision to increase the dividend and our repurchase authorization reflects our confidence in the outlook for 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 long-standing commitment to returning capital to 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. First American Financial Corporation has been paying a dividend to shareholders every year since 2008.