American General Common Stock to Begin Split Adjusted Trading March 2, 2001.Business Editors HOUSTON--(BUSINESS WIRE)--Feb. 27, 2001 American General (NYSE NYSE See: New York Stock Exchange :AGC AGC Automatic Gain Control AGC Automotive Glass Cartridge (fuse) AGC Associated General Contractors AGC Associated General Contractors of America AGC Atypical Glandular Cells AGC Attorney-General's Chambers ) today announced that the recently approved 2-for-1 stock split will take effect as of the close of trading on March 1, 2001, and the Company's common stock will trade on a post-split basis beginning March 2, 2001. The stock split, announced on January 23, 2001, will be effected in the form of a 100% stock dividend and is payable to shareholders of record on February 8, 2001. The stock dividend will immediately succeed the payment of the previously approved quarterly cash dividend of $0.48 per share ($0.24 per share on a post-split basis) also payable to shareholders of record on February 8, 2001. On January 22, 2001, the board of directors of American General approved the issuance of the additional 269,298,493 shares of common stock, $0.50 par value, necessary to effect the stock split. These additional shares will be listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and the other exchanges on which American General common stock is listed. Eligible shareholders will receive one additional share of common stock identical in all respects to and for each share owned on the record date. The issuance of these additional shares will not be a taxable event Taxable event An event or transaction that has a tax consequence, such as the sale of stock holding that is subject to capital gains taxes. to shareholders. The stock split will be effected by book entry through the Direct Registration System to be administered by First Chicago Trust Co. of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Book entry notification will be mailed to shareholders of record beginning on or about March 1, 2001. Questions regarding the stock split may be addressed to First Chicago by calling 800/519-3111 or by visiting their web site at www.equiserve.com. American General is one of the nation's largest diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services organizations with assets of $120 billion and market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of $19 billion. Headquartered in Houston, it is a leading provider of retirement services, investments, life insurance, and consumer loans to 12 million customers. American General common stock is listed on the New York, Pacific, London, and Swiss stock exchanges. |
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