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CENTRAL RESERVE LIFE CORPORATION INCREASES CASH DIVIDEND FOR FOURTEENTH CONSECUTIVE YEAR; 1993 DIVIDEND INCREASED 11 PERCENT

 STRONGSVILLE, Ohio, March 8 /PRNewswire/ -- The board of directors of Central Reserve Life Corporation (NASDAQ/NMS: CRLC) today announced an 11 percent increase in the annual common stock cash dividend, from 36 cents to 40 cents. This represents the fourteenth consecutive year that Central Reserve has paid a cash dividend, which has been increased every year since 1980.
 The 1993 first quarter cash dividend, in the amount of 10 cents, will be paid on March 30, 1993, to shareholders of record on March 19, 1993.
 Fred Lick, Jr., chairman and chief executive officer, commented, "There were a number of positive accomplishments during the past year which improved Central Reserve's financial and operating performance. The company entered 1993 with a strong balance sheet and managed care programs which should enable us to achieve additional growth in our business and increased profits."
 Central Reserve Life is a leading provider of accident and health insurance and related financial products, specializing in groups of 50 or fewer employees. Based in Strongsville, Ohio, the company is currently active in 20 of the 36 states in which it is admitted.
 -0- 3/8/93
 /CONTACT: Frank Grimone, chief financial officer, Central Reserve Life Corporation, 216-572-2400; or Robert A. Lentz of Robert A. Lentz and Associates, Inc., 614-228-2142, for Central Reserve Life Corporation/
 (CRLC)


CO: Central Reserve Life Corporation ST: Ohio IN: INS SU: DIV

KK -- CL002 -- 3869 03/08/93 09:38 EST
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Publication:PR Newswire
Date:Mar 8, 1993
Words:237
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