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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8K
CURRENT REPORT
Current Report Pursuant
to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: April 18, 1997
Date of earliest event reported: April 17, 1997
FIRST AMERICAN CORPORATION
(Exact name of registrant as specified in its charter)
TENNESSEE
(State or other jurisdiction of incorporation)
0-6198 62-0799975
(Commission File Number) (I.R.S. Employer
Identification No.)
FIRST AMERICAN CENTER, NASHVILLE, TENNESSEE 37237-0700
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (615) 748-2000
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Item 5. Other Event
On April 17, 1997, Issuer's Board of Directors declared a 2- for-1 stock split
on Issuer's common stock, $5.00 par value, to shareholders of record April 28,
1997, payable May 9, 1997, as a result of which each of Issuer's authorized
shares of common stock, with a par value of $5.00, will be converted to two
shares of common stock, with a par value of $2.50.
Exhibit No. Description
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20. Press Release dated April 17, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
FIRST AMERICAN CORPORATION
(Registrant)
Date: April 17, 1997 /s/ Mary Neil Price
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Name: Mary Neil Price
Title: Executive Vice President, Deputy General
Counsel and Assistant Secretary
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EXHIBIT INDEX
Exhibit No: Description
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20. Press Release dated April 17, 1997.
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EXHIBIT 20
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Financial Contact: Carroll Kimball, Telephone: 615 / 748-2455, Fax: 615 / 748-2755
Media Contact: Vicki Kessler, Telephone: 615 / 748-2912, Fax: 615 / 748-2535
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For Immediate Release
FIRST AMERICAN ANNOUNCES 2-FOR-1 STOCK SPLIT AND A 29% INCREASE IN THE QUARTERLY
DIVIDEND
NASHVILLE, TENN., April 17, 1997 -- First American Corporation (NASDAQ:
FATN) today announced a 2-for-1 stock split and a 29% increase in the quarterly
dividend of First American common stock.
The 2-for-1 stock split will be issued on May 9, 1997, to shareholders of
record on April 28, 1997. As a result of this stock split, shareholders will
receive one additional share for each share owned on April 28.
On a pre-split basis, the quarterly dividend will be increased from $.31
per share to $.40 per share. The dividend will be payable on May 30, 1997, to
shareholders of record on May 15, 1997. On a post-split basis, the new quarterly
dividend will be $.20 per share.
Commenting on the board of directors' actions, Dennis C. Bottorff, chairman
and CEO, said, "We are excited about the board's decision to authorize the
2-for-1 stock split and to increase the dividend by 29%. These moves are
consistent with the company's strategy to more aggressively manage its capital
base. First American's performance continues to make steady gains as our
position in the markets we serve strengthens. We believe these actions are
indicative of our board's confidence in our future."
Each shareholder of record will be mailed a certificate representing one
additional share for each share held as of the close of business on April 28.
With respect to shares participating in First American's Dividend Reinvestment
Plan, First American will not mail certificates. Instead, First American will
mail account statements crediting the additional shares resulting from the
split. Certificates currently owned by shareholders will continue to represent
shares held and will not be exchanged for new certificates. Therefore,
certificates should not be returned to the company or to its transfer agent.
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