American National Financial, Inc. Announces Its Fifteenth Consecutive Quarterly Cash Dividend and Approval of $5 Million Stock Repurchase Program
|September 26, 2002|
ORANGE, Calif., /PRNewswire-FirstCall -- American National Financial, Inc. (Nasdaq: ANFI) announced that at a meeting on September 25, 2002, its Board of Directors declared a quarterly cash dividend in the amount of $.125 per share. The dividend will be payable on October 21, 2002 to stockholders of record as of October 7, 2002.
"This is our fifteenth consecutive quarterly dividend, another example of our Company's ongoing commitment to reward our shareholders," said Michael C. Lowther, Chairman of the Board and Chief Executive Officer.
"Our Company's declaration of this dividend, which after our 5 for 4 stock split represents a 25% increase in our dividend rate, is indicative of the continuing confidence we have in our ongoing earning potential," stated Carl A. Strunk, Executive Vice President and Chief Financial Officer.
Additionally, the Company also announced that its Board of Directors has approved a stock repurchase program. Under the program, the Company is authorized to repurchase up to an aggregate of $5 million worth of its common stock in the open market, in block purchases or in privately negotiated transactions, depending upon market conditions and other factors.
In an unrelated matter, the Company has been advised that some third party information reporting agencies are inaccurately reporting information found on public filings made by its officers. In particular, one agency has reported that Mssrs. Lowther and Strunk, and Wayne D. Diaz, President of the Company, and Barbara A. Ferguson, Executive Vice President of the Company, currently own 0 shares of Company common stock. As reported in public filings with the Securities and Exchange Commission, available at the SEC's website http://www.sec.org , the Company's management collectively own 2,540,496 shares of Company common stock, or approximately 26.7% of the outstanding shares
Source: American National Financial, Inc.