Cash Dividend Increases 3.4% to $0.15 Per Share; Alfa Corporation Declares Two-for-One Stock Split.Business Editors MONTGOMERY Montgomery, city, United States Montgomery, city (1990 pop. 187,106), state capital and seat of Montgomery co., E central Ala., near the head of navigation on the Alabama River just below the confluence of the Coosa and Tallapoosa rivers, and in the rich , Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--April 25, 2002 Alfa Al´fa n. 1. A plant (Macrochloa tenacissima) of North Africa; also, its fiber, used in paper making. Corporation (Nasdaq/NM:ALFA) today announced that its Board has increased the quarterly cash dividend to $0.15 per share, payable on May 31, 2002, to shareholders of record on May 15, 2002. This represents an increase of 3.4% from the previous rate of $0.145 per share per quarter and marks the 28th consecutive year in which cash dividends have increased. Alfa Corporation also announced that its Board of Directors has approved a two-for-one stock split to be effected as a 100% stock dividend. The new shares will be distributed on June June: see month. 17, 2002, to stockholders of record on June 3, 2002. Alfa Corporation currently has approximately 39.5 million common shares outstanding. Commenting on the announcement, Alfa's Chairman, President and Chief Executive Officer, Jerry A. Newby, said, "It is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that the Company's continued growth and its strong capital position have enabled the Board to declare this split and increase the cash dividend rate again. We are confident that the additional shares outstanding will benefit shareholders by increasing the trading activity, visibility, and liquidity of our shares." Alfa Corporation is engaged in insurance and financial activities through its subsidiaries. The common stock of Alfa Corporation is traded on the Nasdaq Stock Market's National Market under the symbol ALFA. Investors are cautioned that statements in this press release which relate to the future are, by their nature, uncertain and dependent upon numerous contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. -- including political, economic, regulatory, climatic, competitive, legal, and technological -- any of which could cause actual results and events to differ materially from those indicated in such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Additional information regarding these and other risk factors and uncertainties may be found in Alfa Corporation's filings with the Securities and Exchange Commission. |
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