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CAROLINA FIRST BANCSHARES DECLARES DIVIDEND

 CAROLINA FIRST BANCSHARES DECLARES DIVIDEND
 LINCOLNTON, N.C., May 19 /PRNewswire/ -- Carolina First BancShares,


Inc. (NASDAQ: CAFC), Lincolnton, today announced that the board of directors has declared a 5 percent stock dividend.
 The non-taxable stock dividend will be paid on June 23, 1992, to shareholders of record June 9, 1992, and results in the issuance of 57,477 new shares. In making the announcement, Chairman of the Board D. Mark Boyd III stated, "This stock dividend is indicative of the company's continued growth and our desire to share the bank's recent gains with the shareholders."
 Carolina First is the parent company of Lincoln Bank of North Carolina and Cabarrus Savings Bank.
 -0- 5/19/92
 /CONTACT: James E. Burt III of Carolina First BancShares, 704-732-2222/
 (CAFC) CO: Carolina First BancShares, Inc. ST: North Carolina IN: FIN SU: DIV


CK -- NY112 -- 2123 05/19/92 19:58 EDT
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Publication:PR Newswire
Date:May 19, 1992
Words:147
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