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FIRST UNION CORPORATION DECLARES CASH DIVIDENDS ON COMMON AND PREFERRED STOCK

 FIRST UNION CORPORATION DECLARES CASH DIVIDENDS
 ON COMMON AND PREFERRED STOCK
 CHARLOTTE, N.C., Aug. 18 /PRNewswire/ -- The board of directors of First Union Corporation (NYSE: FTU FTUpr) today declared a quarterly cash dividend of 31 cents per share for its common stock.
 The common stock dividend is payable Sept. 15 to stockholders of record as of Aug. 28. On an annualized basis, the dividend rate is $1.24 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 8.85 percent per annum, applied against $50.00 ($1.1063 per share), and is payable Sept. 30 to holders of record as of Sept. 15.
 First Union Corporation is the nation's 11th largest bank holding company, based on assets of $47.7 billion as of June 30, 1992, and operates 990 banking offices in Florida, North Carolina, South Carolina and Georgia, one banking office in Tennessee, and 201 nonbanking offices in 36 states.
 -0- 8/18/92
 /CONTACT: Media Contact, Jeep Bryant, 704-374-2957 or Investor Contact, Maggie Norris, 704-374-4353, both of First Union Corporation/
 (FTU) CO: First Union Corporation ST: North Carolina IN: FIN SU: DIV


JZ -- CH006 -- 1069 08/18/92 16:06 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
Words:217
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