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CHARTER ONE FINANCIAL, INC. ANNOUNCES 3 FOR 2 STOCK SPLIT AND DECLARES A 12.5 PERCENT DIVIDEND INCREASE

 CLEVELAND, Oct. 18 /PRNewswire/ -- Directors of Charter One Financial, Inc. (NASDAQ/NMS: COFI), holding company for Charter One Bank, F.S.B., today announced a 3 for 2 stock split and also declared an increase in its regular quarterly dividend to $0.18 per common share on shares held prior to the stock split, which equates to $0.12 per share following the stock split. The new dividend represents a 12.5 percent increase over the previous dividend of $0.16. The stock split is the second for Charter One Financial, Inc. since going public in 1988, the first taking place in May, 1992.
 The $0.18 dividend will be payable Nov. 19, 1993 to shareholders of record on shares owned prior to the stock split, as of the close of business on Nov. 1, 1993. The stock split is also effective Nov. 19, 1993 to shareholders of record as of the close of business on Nov. 1, 1993.
 Charles John Koch, president and chief executive officer, said, "A 3 for 2 stock split will further enhance the liquidity of Charter One Financial stock as well as to stimulate affordability of the stock, at the lower price, to individual, retail investors."
 Charter One Financial, Inc.'s subsidiary, Charter One Bank, is the largest federal savings bank in Ohio, operating 96 offices in the Cleveland, Akron, Canton, Portsmouth, Toledo, and Youngstown markets.
 -0- 10/18/93
 /CONTACT: Charles John Koch, Leonard A. Krysinski or James E. Pietrangelo of Charter One Financial, Inc., 216-566-5300; or William L. Dupuy of Edward Howard & Co., 216-781-2400, for Charter One Financial, Inc./
 (COFI)


CO: Charter One Financial, Inc. ST: Ohio IN: FIN SU: DIV

BM -- CL020 -- 3354 10/18/93 11:36 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
Words:287
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