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COMMERCIAL METALS DECLARES 4- FOR-3 STOCK SPLIT IN THE FORM OF A STOCK DIVIDEND AND INCREASES CASH DIVIDEND

 DALLAS, Nov. 22 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) announced that its board of directors today declared a four- for-three stock split in the form of a 33-1/3 percent stock dividend on the company's common stock payable Dec. 27 to shareholders of record Dec. 6. Any fractional shares resulting from the stock split will be paid in cash based on the closing sale price of the stock on the New York Stock Exchange on the record date. Brokers and nominees should notify the company's transfer agent of requests for fractional and full share requirements no later than Dec. 13.
 The company also announced its intent to institute a quarterly cash dividend of 12 cents per share on the increased number of shares resulting from the stock dividend. The effect of the stock dividend combined with new cash dividend rate results in a 23 percent increase in cash dividend payments.
 In making the announcement CMC President and Chief Executive Officer Stanley A. Rabin said, "We feel today's action is prudent and reflects CMC's confidence in its near term as well as long-term business prospects."
 Commercial Metals Company, headquartered in Dallas, operates world- wide in raw materials and industrial product related activities including domestic and international marketing and trading, steel manufacturing and fabrication, metal recycling, copper tube production, the distribution of semi-finished metal products, and rail salvage.
 -0- 11/22/93
 /CONTACT: Bob Davis of Commercial Metals Company, 214-689-4354/
 (CMC)


CO: Commercial Metals Company ST: Texas IN: MNG SU: DIV

CK -- NY089 -- 6974 11/22/93 16:45 EST
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Publication:PR Newswire
Date:Nov 22, 1993
Words:258
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