Advanta boosts common stock dividends by more than 20%.SPRING HOUSE, Pa.--(BUSINESS WIRE)--Nov. 13, 1996--Advanta Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADVNB; ADVNA ADVNA Advanta Corporation (stock symbol) ) announced that its board of directors has increased the dividends on both classes of common stock. The regular quarterly dividend on the Class B common stock was raised to $.132 per share from $.108 and the dividend on the Class A common stock was raised to $.11 per share from $.09, increases of 22% each. This marks the fifth consecutive yearly dividend increase for the Class B shares and the seventh consecutive annual increase for Class A. Fourth quarter dividends will be payable on Dec. 17, 1996 to shareholders of record on Nov. 29, 1996. "This dividend increase reflects management's confidence in the company's earnings momentum and Advanta's continuing commitment to enhancing shareholder value," commented Dennis Dennis is a male first name derived from the Greco-Roman name Dionysius meaning "servant of Dionysus", the Thracian god of wine, which is ultimately derived from the Greek Dios (Διος, "of Zeus") combined with Nysos or Nysa (Νυσα), where the Alter, chairman of the board. Since Advanta Advanta is an American banking company. Currently, it controls two banks, Advanta Bank Corp and Advanta National Bank. The banking corporation is not associated with Advanta Energy Corp., an energy consulting practice based in California. began paying dividends seven years ago, the company's managed assets have grown more than ten times their size of $1.8 billion. Similarly, quarterly net income has increased by more than 16 times the $2.7 million in 1989. With nearly six million customers, over $18 billion in managed assets and 3,400 employees at Sept. 30, 1996, Advanta is a rapidly growing consumer financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. enterprise. The company proudly serves consumers and small businesses through high quality, innovative offerings of credit cards, mortgages, leases, insurance and deposit products. CONTACT: Advanta, Spring House Janet Janet: see Clouet, Jean. JANET - Joint Academic NETwork Point, VP/Investor Relations, 215/444-5335 |
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