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CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND

 CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND
 NEW YORK, March 16 /PRNewswire/ -- The board of directors of Canal


Capital Corporation (NYSE: COW) today announced that the dividend payable on March 31, 1992 on its $1.30 exchangeable preferred stock would be paid in additional shares of preferred stock at the rate of .0325 shares for each share of preferred stock outstanding. A cash dividend will be paid in lieu of fractional shares that would otherwise be issuable at the market value on the record date. The dividend shall be payable to stockholders of record on March 24, 1992.
 -0- 3/16/92
 /CONTACT: Canal Capital, 212-826-6040/
 (COW) CO: Canal Capital Corporation ST: New York IN: FIN SU: DIV


SM-OS -- NY054 -- 8352 03/16/92 13:07 EST
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Publication:PR Newswire
Date:Mar 16, 1992
Words:126
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/C O R R E C T I O N -- CANAL CAPITAL CORPORATION/

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