Title Insurer Boosts Its Dividend by 25%
A Times Staff Writer
Title insurer American National Financial Inc., benefiting from the strong real estate market this year, said Thursday that its directors have approved a 25% increase in the company’s quarterly dividend.
The payout is being raised to 12.5 cents from 10 cents a share, payable Oct. 22 to shareholders of record Oct. 8.
The Orange firm, which provides other real estate services as well, has posted hefty gains in earnings and revenue this year. In the second quarter, for example, net income grew fivefold to $3.4 million, or 41 cents a share, as revenue advanced 69% to $35.3 million.
The stock, which has more than doubled this year, closed at $7.42, up 47 cents a share, Thursday on Nasdaq.
