First American Financial hikes dividend by 1.9% to $0.53 quarterly per share

On August 22, 2023, First American Financial Corporation (FAF) declared a dividend hike of 1.9% to $0.53 quarterly per share. The provider of title insurance, settlement services and risk solutions for real estate transactions has now raised its dividend 12 straight years.

The next FAF cash dividend is payable on September 15, 2023 to shareholders of record as of September 8, 2023. The new $2.12 per share annual dividend yields 3.5% at a stock price of $59.85. Last year FAF announced a dividend hike of 2.0%.

“Our decision to increase the cash dividend signals our continued confidence in the outlook for our business and our long-standing commitment to return capital to our shareholders,” said Ken DeGiorgio, chief executive officer of 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. First American Financial Corporation has been paying a dividend to shareholders every year since 2008.