Fidelity National Title Group, Inc. Announces a 16% Increase in Quarterly Cash Dividend to $0.29
Jacksonville, Fla. -- (February 8, 2006) -- Fidelity National Title Group, Inc. (NYSE: FNT), the nation's largest title insurance company and a majority-owned, publicly traded subsidiary of Fidelity National Financial, Inc. (NYSE: FNF), today announced that its Board of Directors has declared an increase in the quarterly cash dividend to $0.29 per share. The dividend will be payable March 28, 2006 to stockholders of record as of March 15, 2006. The $0.29 dividend represents a 16 percent increase over the most recent quarterly cash dividend of $0.25.
"FNT is unique among its title insurance peers in paying a significant dividend," said Chairman of the Board William P. Foley, II. "We believe this significant dividend increase is a strong statement about the future earnings power of FNT, particularly heading into what most expect to be a slowing mortgage market in 2006."
Fidelity National Title Group, Inc. is the nation's largest title insurance company. The Company's title insurance underwriters - Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title - issue approximately 31 percent of all title insurance policies in the United States. Through its direct operations and agencies, the Company provides title insurance in 49 states, the District of Columbia, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and Canada. In 2005, FNT also acquired Service Link, a leading provider of title and closing services to major financial institutions and lenders, including six of the top 10 lending institutions in the United States ranked by loan origination volume. More information about Fidelity National Title Group can be found at www.fntg.com.
FNT is a majority-owned subsidiary of Fidelity National Financial Inc., number 261 on the Fortune 500 and a provider of products and outsourced services and solutions to a variety of industries. More information about FNF can be found at www.fnf.com.
This press release contains statements related to future events and expectations and, as such, constitutes forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be different from those expressed or implied above. The Company expressly disclaims any duty to update or revise forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the effect of governmental regulations, the economy, competition and other risks detailed from time to time in the "Management's Discussion and Analysis" section of the Company's Form 10-K and other reports and filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Title Group, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations, 904-854-8120, dkmurphy@fnf.com