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DOLCO PACKAGING CORP. ANNOUNCES QUARTERLY DIVIDEND PAYMENT AND PARTIAL REDEMPTION OF PREFERRED STOCK

 SHERMAN OAKS, Calif., March 18 /PRNewswire/ -- Dolco Packaging Corp. (NASDAQ: DPKG DPKGP) reported today that its board of directors has declared a quarterly cash dividend of $.09 per share on its preferred stock, payable on April 15, 1993, to stockholders of record as of March 31, 1993. The ex-dividend date is March 25, 1993.
 The board of directors has also voted in favor of redeeming 175,000 shares of the preferred stock of the company at $4 per share plus accrued and unpaid dividends thereon. This represents 7 percent of the outstanding preferred stock of the company. The company's transfer agent, First Interstate Bank Ltd., will act as paying agent. The record date for the purpose of determining the shares to be redeemed will be April 30, 1993. Shares will be redeemed on a pro rata basis. Notice of the redemption will be mailed to all preferred stockholders on April 15, 1993, and the redemption date will be June 1, 1993. This redemption is the first for the preferred stock since it was issued in 1991. The number of shares to be redeemed is the maximum amount allowable for this fiscal year under the provisions of the preferred stock issue.
 Dolco Packaging Corp. is a manufacturer of plastic packaging products.
 -0- 3/18/93
 /CONTACT: Maggie H. Earley of Dolco Packaging, 818-995-1409, ext. 304/
 (DPKG DPKGP)


CO: Dolco Packaging Corp. ST: California IN: SU: DIV

MS-LS -- LA035 -- 7608 03/18/93 16:04 EST
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Publication:PR Newswire
Date:Mar 18, 1993
Words:244
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