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CONAGRA INCREASES DIVIDEND 15 PERCENT AND CONFIRMS FY93 FIRST QUARTER/YEAR EARNINGS OUTLOOK

 CONAGRA INCREASES DIVIDEND 15 PERCENT AND CONFIRMS FY93
 FIRST QUARTER/YEAR EARNINGS OUTLOOK
 OMAHA, Neb., Sept. 16 /PRNewswire/ -- ConAgra Inc. (NYSE: CAG) today announced that the company is increasing its common stock dividend 15 percent, beginning with the next quarterly payment on Dec. 1, 1992. Charles M. Harper, ConAgra's chairman and chief executive officer, commented, "ConAgra's policy is to increase cash dividends consistent with growth in our company's trend line earning power. The 15-percent dividend increase reflects our confidence that ConAgra's trend line earning power continues to grow consistent with our company's objective."
 ConAgra also announced that it expet?o report earnings per share on plan at 28 cents for fiscal year 1993's first quarter ended Aug. 30, compared to 27 cents in the prior year's first quarter, and continues to expect record earnings per share for the full year. ConAgra's outlook for record earnings in fiscal 1993 and little change in first quarter earnings was previously announced by the company on June 11, 1992. ConAgra plans a full release on first quarter earnings next week.
 The 15-percent dividend increase will raise ConAgra's annual common stock dividend rate from 54 cents to 62 cents per share. The quarterly dividend payable Dec. 1 will increase from 13 1/2 cents to 15 1/2 cents. The record date for this payment will be Nov. 6, 1992. The new dividend rate is more than double the rate just five years earlier, and more than quadruple the rate 10 years earlier.
 Earnings per share of 28 cents in fiscal 1993's first quarter would correspond to net income of $71.9 million versus $68.7 million in last year's first quarter. The principal reason ConAgra planned a modest gain in first quarter earnings per share was markedly higher spending to support new consumer product introductions.
 -0- 9/16/92
 /CONTACT: Walt Casey of ConAgra, 402-595-4154/
 (CAG) CO: ConAgra Inc. ST: Nebraska IN: FOD SU: DIV


BB -- DV005 -- 0083 09/16/92 11:52 EDT
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Publication:PR Newswire
Date:Sep 16, 1992
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