Investor Presentaiton
21
Dividends
DIVIDENDS PER SHARE
$2.25
$2.06 $2.10
$1.94
$2.00
$1.78
$1.75 $1.60
$1.68
$1.50
$1.25
$1.00
$0.75
2018
2019
2020
2021
2022
2023E
100%
80%
PAYOUT RATIO
60%
38%
40%
27%
29%
17%
20%
0%
2018
2019
2020
2021
83%
Note: 2023E is based on current dividend and EPS consensus of $4.15
51%
2022
2023E
Dividend Considerations
First American expects to pay a meaningful dividend
given the company's cash flow generation and
investment opportunities
Dividend increases are intended to be sustainable
in perpetuity
■ Dividend increases will be dependent upon expected
holding company cash flows, market conditions and
alternative uses of capital, among other factors
■ The company is not committed to always increasing
the dividend each year
22 SQUARE PEDESTAL
24% SQUARE PEDESTAL
35 SOLARE PEDESTAL
AMERICA
First AmericanView entire presentation