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BANDAG ANNOUNCES NEW CLASS OF NON-VOTING STOCK AND DECLARES DIVIDEND

 BANDAG ANNOUNCES NEW CLASS OF NON-VOTING STOCK AND DECLARES DIVIDEND
 MUSCATINE, Iowa, May 6 /PRNewswire/ -- Bandag, Incorporated, (NYSE: BDG) announced today that its shareholders have approved the creation of a new class of non-voting class A common stock. In addition, the board of directors declared a stock dividend of one share of the new class A common stock on each outstanding share of existing common stock and class B common stock, effectively resulting in a two- for-one stock split. The stock dividend is payable on June 10, 1992, to shareholders of record at the close of business on May 27, 1992. It is anticipated that the class A common stock will be listed on the New York Stock Exchange.
 Also, the board of directors declared a regular quarterly dividend of 15 cents per share on the common stock, class A common stock and class B common stock of the company payable July 24, 1992, to shareholders of record at the close of business on June 24, 1992. The 15 cents per share dividend gives effect to the two-for-one stock split.
 Bandag, Incorporated manufactures retreading materials and equipment for its worldwide network of over 1,200 independent franchised dealers who produce and market cold process retreads.
 -0- 5/6/92
 /CONTACT: Thomas E. Dvorchak of Bandag, 319-262-1332/
 (BDG) CO: Bandag, Incorporated ST: Iowa IN: SU: DIV


PS-LR -- NY063 -- 7158 05/06/92 14:03 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:234
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