American General Declares 7% Increase in Common Dividend and Declares Regular Preferred Stock Dividend

Business Wire, Jan 21, 1999

HOUSTON--(BUSINESS WIRE)--Jan. 21, 1999--American General (NYSE:AGC) today announced that the board of directors declared a 7% increase in the quarterly cash dividend on common stock to $.40 per share. The dividend is payable March 1, 1999 to holders of record as of Feb. 11, 1999. This brings the annual rate to $1.60 per share.

The dividend will be the company's 281st consecutive quarterly common dividend paid since 1929, and represents the 24th consecutive annual increase in the regular dividend rate.

American General's board of directors also declared a regular quarterly cash dividend of $.6433 per share on the company's 7% mandatorily convertible preferred stock. The preferred dividends are payable March 1, 1999 to holders of record as of Feb. 11, 1999.

American General Financial Group is one of the nation's largest diversified financial services organizations, with assets of $102 billion and market capitalization of $18 billion. Headquartered in Houston, it is a leading provider of retirement services, life insurance and consumer loans to over 12 million customers. American General common stock is listed on the New York, Pacific, London and Swiss stock exchanges.