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FIRST UNION CORPORATION DECLARES CASH DIVIDEND ON COMMON AND PREFERRED STOCK

 CHARLOTTE, N.C., Oct. 19 /PRNewswire/ -- The board of directors of First Union Corporation (NYSE: FTU) today declared a quarterly cash dividend of 40 cents per share for its common stock.
 The common stock dividend is payable Dec. 15 to holders of record as of Nov. 30. On an annualized basis, the dividend rate is $1.60 per share.
 The board also declared a quarterly cash dividend for its series 1990 cumulative perpetual adjustable rate preferred stock (NYSE: FTUpr). The dividend rate for the series 1990 preferred stock is 6.95 percent per annum, applied against $50.00 ($0.8688 per share), and is payable Dec. 31 to holders of record as of Dec. 15.
 At Sept. 30, 1993, First Union Corporation reported assets of $71.4 billion and operated 1,373 banking offices in Florida, North Carolina, South Carolina, Georgia, Virginia, Tennessee, Maryland and Washington, D.C., and 218 nonbanking offices in 36 states.
 -0- 10/19/93
 /CONTACT: (Media) Jeep Bryant, 704-374-2957, or (Investor) Sean Fox, 704-374-4353, both of First Union/
 (FTU)


CO: First Union Corporation SY: North Carolina IN: FIN SU: DIV

First -- CH011 -- 4134 10/19/93 15:48 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
Words:194
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