It's confusing Stoney, there was a 15% dividend paid to shareholders from FG.
It was like $2.70.
That's why it dropped from $40.50
JACKSONVILLE, Fla., Dec. 1, 2022 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF) ("FNF" or the "Company"), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF's subsidiary, F&G Annuities & Life, Inc. ("F&G"), today announced completion of the distribution to FNF shareholders, on a pro rata basis, of approximately 15% of the common stock of its subsidiary, F&G. Effective today, F&G has commenced "regular-way" trading of its common stock on the New York Stock Exchange ("NYSE") under the symbol "FG". FNF retains control of F&G through an approximate 85% equity ownership stake and will continue to trade on the NYSE under the symbol "FNF".
William P. Foley, II, Chairman of the Board of FNF, commented, "We are pleased to have successfully completed our planned dividend to FNF shareholders, on a pro rata basis, of approximately 15% of F&G's common stock, which we believe will highlight the substantial equity value of F&G that has been and will continue to be created. At the time of our acquisition of F&G in June of 2020, we committed to F&G doubling assets under management to $50 billion over five years through organic growth. In just over two years, Chris and his team are well ahead of expectations with F&G's assets under management increasing to $42 billion as of the third quarter of 2022. This financial performance not only validates our initial strategy during the acquisition, it also provides confidence for the future of F&G and its ability to generate value for both FNF and F&G shareholders."
