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CENTRAL FIDELITY ANNOUNCES DIVIDEND INCREASE

 RICHMOND, Va., Jan. 12 /PRNewswire/ -- The board of directors of Central Fidelity Banks, Inc. (NASDAQ-NMS: CFBS) approved today an increase of 12 percent in the quarterly cash dividend to 28 cents per share for a new annual rate of $1.12 per share. The cash dividend will be paid on April 1, 1994, to shareholders of record March 18, 1994.
 This action represents Central Fidelity's 20th increase in the cash dividend payout during the past 15 years.
 Central Fidelity Banks, Inc., is a Richmond-based bank holding company with assets of $9.7 billion and 230 offices.
 -0- 1/12/94
 /CONTACT: Charles W. Tysinger, chief financial officer, 804-697-7038, or Susan Lawrence Mistr, public relations manager, 804-697-7261, both of Central Fidelity Banks/
 (CFBS)


CO: Central Fidelity Banks, Inc. ST: Virginia IN: FIN SU: DIV

DT-KD -- DC015 -- 0982 01/12/94 12:55 EST
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Publication:PR Newswire
Date:Jan 12, 1994
Words:142
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