The split will be implemented on July 18, 2002, to shareholders of record as of the close of business July 8, 2002. The company's board of directors has decided to split the shares as a way to reward current shareholders and to encourage new investors, says Michael C. Lowther, American National's chairman and CEO. By increasing the liquidity of the ANFI stock, it will be more accessible to a wider range of investors, he adds.
American National Financial provides title insurance services through its 85 branch offices in California, Arizona, Nevada and New York. It also operates on a national level through its National Title Insurance of New York Inc. subsidiary, which is licensed to issue and underwrite title insurance policies in 34 states, the District of Columbia and the U.S. Virgin Islands
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