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FARREL CORPORATION ANNOUNCES DIVIDEND AND ADOPTION OF STOCK REPURCHASE PROGRAM

 ANSONIA, Conn., Jan. 28 /PRNewswire/ -- The board of directors of Farrel Corporation (NASDAQ: FARL) announced on Jan. 14, 1993 its decision to declare a one-time special dividend of 16 cents per share on all shares of record as of Jan. 25, 1993, payable Feb. 5, 1993. The dividend is a result of the company's receipt of proceeds pursuant to a settlement of litigation with Pomini S.p.A. and Pomini Inc. In declaring this special dividend the board indicated that any future dividends would be evaluated in light of quarterly operating results.
 The board also approved a discretionary open market stock repurchase program pursuant to which the company is authorized to purchase up to $250,000 of its common stock, from time to time.
 Farrel Corporation is a leading designer and manufacturer of machinery used to process rubber and plastics. The company's products include Banbury(R) Mixers, continuous mixers, extruders, plastic compounders, pelletizers, gear pumps, calendars and mills. Farrel also provides repair, refurbishment and machinery upgrade services.
 -0- 1/28/93
 /CONTACT: Joseph R. Carvalko, Jr. of Farrell Corporation, 203-736-5514/
 (FARL)


CO: Farrel Corporation ST: Connecticut IN: MAC SU: DIV

LR-TS -- NY070 -- 0311 01/28/93 13:30 EST
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Publication:PR Newswire
Date:Jan 28, 1993
Words:199
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