HOUSTON (Nov. 18, 2003) - The Board of Directors of Stewart Information Services Corp. (NYSE-STC) today declared a regular annual cash dividend of $.46 per share, payable Dec. 19, 2003, to Common stockholders of record Dec. 5, 2003.
"In this new economic landscape of more favorable tax treatment of corporate dividends, it is time to recommence a dividend to our valued shareholders," said Malcolm S. Morris, chairman. "The amount of the dividend allows the Company to maintain sufficient liquidity to fund its cash needs, including ongoing acquisitions. Our goal is to enhance shareholder's returns and growth in book value."
"Our plan to continue increasing shareholder value focuses on our associates, spurring them to provide a Magnificent Customer Experience to our customers," said Stewart Morris Jr., president. "Through implementation of best practices, streamlining our process flows and deployment of optimal technology, we are focused on Enhancing the Real Estate Transaction Process. Consistent customer satisfaction is key to our success."
Stewart Information Services Corporation is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 7,000 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 and land ownership mapping, and GIS for governmental entities. Stewart also provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.