HOUSTON, June 24 /PRNewswire-FirstCall/ -- Stewart Information Services Corporation (NYSE: STC) today announced that its Board of Directors has decided to recommence the payment of dividends on its Common Stock. In light of the reduction in the tax rate payable on dividends received by stockholders effected by the Jobs and Growth Tax Relief Reconciliation Act of 2003, the Company believes that the reinstatement of dividends will enhance the Company's long-term value and encourage long-term investment by a diverse stockholder base. The Company intends to declare and pay dividends annually. The amount, record date and payment date of the next dividend will be determined by the Board in the fourth quarter of 2003. The amount of the dividend will depend on the Company's financial condition and results of operations at that time.
Stewart Information Services Corp. is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,700 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports, background checks and online property auctions. Stewart also supplies post-closing services to lenders, automated county clerk land records and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.