Printer Friendly

FIRST CHICAGO INCREASES COMMON STOCK DIVIDEND 33 PERCENT; ANNOUNCES STOCK REPURCHASE PROGRAM

 CHICAGO, Nov. 12 /PRNewswire/ -- First Chicago Corporation (NYSE: FNB) said today that its board of directors declared a 33 percent increase in the common stock quarterly dividend to 40 cents per share, from 30 cents per share. The dividend is payable Jan. 1, 1994, to stockholders of record Dec. 3, 1993.
 In addition, the board authorized the corporation to buy back up to 2.5 million shares of its common stock, or about 2.9 percent of total shares outstanding. The repurchased shares will be added to treasury shares to meet current and near-term common stock requirements for the corporation's employee benefit plans. Purchases will be made from time to time on the open market or through privately negotiated transactions.
 "Our strong core earnings performance this year and our very healthy balance sheet support these actions," Chairman Richard L. Thomas said. "We are also optimistic about prospects for growth in our fundamental businesses."
 First Chicago Corporation, with $53.2 billion in assets, is the nation's 10th largest bank holding company. It provides a complete line of financial products and services to large corporations, international companies, government agencies, medium-sized businesses and consumers.
 -0- 11/12/93
 /CONTACT: Lisabeth Weiner of First Chicago, 312-732-4455/
 (FNB)


CO: First Chicago Corporation ST: Illinois IN: FIN SU: DIV

WB -- NY052 -- 3676 11/12/93 12:05 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 12, 1993
Words:222
Previous Article:METALL MINING ANNOUNCES THIRD QUARTER RESULTS
Next Article:HAMPTON RESOURCES CORPORATION ANNOUNCE THIRD QUARTER AND NINE MONTHS RESULTS FOR 1993
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters