HOUSTON (Sept. 22, 2004) - Stewart Information Services Corp. (NYSE-STC) celebrated 10 years on the New York Stock Exchange, with co-chief executive officers Malcolm S. Morris and Stewart Morris Jr. ringing the closing bell on Monday, Sept. 20.
The stock closed just above $39 a share at that session, bringing the company's market cap above $700 million.
"In the 10 years since we moved to the NYSE, our book value per share has grown from $12.69 to $36.27 at June 30, 2004," said Malcolm Morris, chairman and co-CEO. "We continue working to grow shareholder value."
Stewart representatives at the closing ceremony also included members of the company's board of directors.
"Our company has grown noticeably in revenue as well, from $611 million in 1994 in our first year on the NYSE to $2.2 billion in 2003," said Stewart Morris Jr. "We have matured in national coverage to more than 7,800 offices in the United States and offices in 13 countries as well. We celebrated these milestones with a meeting of our board of directors at the exchange and an event on the floor of the exchange with our New York associates, customers, analysts and shareholders."
Stewart Information Services Corp. is a technology driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services through more than 7,800 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records, property ownership mapping and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at http://www.stewart.com.