American General has declared a 2-for-1 split in the company’s common stock effected in the form of a 100 percent stock dividend, payable March 1 to shareholders of record on February 8, 2001. As a result of the split, shareholders of record on February 8, 2001 will receive one additional share of American General common stock for each share then owned.
The company’s board also declared a 9 percent increase in the quarterly cash dividend on common stock to $.48 per pre-split share, which is also payable March 1, 2001 to holders of record on February 8, 2001. The new indicated annual dividend rate on a pre-split basis is $1.92 per share.
On a post-split basis, the new indicated dividend rate is equal to $.24 per share quarterly and $.96 per share annually. The March 1, 2001 cash dividend will be the company’s 289th consecutive quarterly common dividend paid since 1929, and represents the 26th consecutive annual increase in the regular dividend rate.
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