Westcorp Announces Cash Dividend
Westcorp, the diversified financial services company whose principal subsidiaries are WFS Financial Inc. and Western Financial Bank, declared on Nov. 10 a cash dividend of $0.10 per share for shareholders of record as of Nov. 24 with a payable date of Dec. 8.
Westcorp, through its subsidiary WFS, is one of the nation's largest independent automobile finance companies. WFS specializes in the origination, securitization and servicing of new and used automobile contracts through its nationwide relationships with automobile dealers. WFS provides financing for borrowers in the prime and non-prime credit quality sectors.
Since 1985, WFS has securitized $19 billion of automobile contracts on 50 transactions, making it the fourth largest issuer in the United States. WFS currently services $6.5 billion of automobile contracts.
Westcorp, through its subsidiary, Western Financial Bank, operates 25 retail bank branches throughout California, and provides commercial banking services in Southern California.
Information on the products and services offered by the bank can be found at its Website, www.wfb.com. Information about Westcorp can be found at its Website, www.westcorpinc.com. Information about WFS can be found at its Web site, www.wfsfinancial.com.
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