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CHEMICAL BANKING INCREASES QUARTERLY DIVIDEND

 NEW YORK, March 16 /PRNewswire/ -- The board of directors of Chemical Banking Corporation (NYSE: CHL)increased the quarterly dividend on the outstanding shares of the corporation's common stock to 33 cents per share, from 30 cents per share, payable on April 30, 1993 to stockholders of record at the close of business on April 6, 1993. On an annual basis, this would represent an increase in the dividend rate to $1.32 per share, from $1.20 per share.
 The board said that its decision was based on Chemical's strong earnings in 1992 combined with the board's confidence in continued revenue opportunities, additional merger-related expense savings and further improvements in credit quality in 1993.
 -0- 3/16/93
 /CONTACT: John Borden, investor relations, 212-270-7318, or John Meyers, 212-270-7454, both of Chemical./
 (CHL)


CO: Chemical Banking Corporation ST: New York IN: FIN SU: DIV

AH-LR -- NY037 -- 6526 03/16/93 11:58 EST
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Publication:PR Newswire
Date:Mar 16, 1993
Words:152
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