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ALLEN GROUP DECLARES QUARTERLY CASH DIVIDENDS 10 PERCENT STOCK DIVIDEND

ALLEN GROUP DECLARES QUARTERLY CASH DIVIDENDS 10 PERCENT STOCK DIVIDEND
 MELVILLE, N.Y., Dec. 3 /PRNewswire/ -- The Allen Group Inc. (NYSE: ALN) announced today that its board of directors has declared a 10 percent stock dividend on its common stock and has also declared regular quarterly cash dividends on both its common stock and its convertible exchangeable preferred stock.
 Commenting on these actions, Philip Wm. Colburn, chairman of board of Allen, stated: "The stock dividend declared on our common stock is further evidence of the continued improvement in the operating profitability of the company and the growing strength of our balanced sheet. It is the board's intention to continue paying a quarterly cash dividend of 5 cents per common share in future quarters which, after giving effect to the 10 percent stock dividend declared today, will increase the cash dividend rate in future quarters by 10 percent."
 The board of directors adopted the following specific resolutions with respect to these dividends:
 -- declared a 10 percent stock dividend payable Jan. 17, 1992 to common stockholders of record on Dec. 23, 1991
 -- declared a quarterly cash dividend of 5 cents per share on the company's common stock, payable Jan. 7, 1992 to common stockholders of record on Dec. 13, 1991 and
 -- declared the quarterly cash dividend of $.4375 per share on the company's $1.75 convertible exchangeable preferred stock, Series A, payable Feb. 15, 1992 to preferred stockholders of record on Jan. 31, 1992.
 The Allen Group Inc. manufacturers and markets electronic and other products, principally for the telecommunications and automotive industries, including mobile communications equipment, automotive test equipment and truck components.
 -0- 12/3/91
 /CONTACT: Robert Youdelman of Allen Group, 516-293-5500/
 (ALN) CO: Allen Group Inc. ST: New York IN: AUT SU: DIV SM-CK -- NY048 -- 8764 12/03/91 12:42 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 3, 1991
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