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GAINSCO, INC. DECLARES REGULAR QUARTERLY CASH DIVIDEND AND SEMI-ANNUAL 5 PERCENT STOCK DIVIDEND

 FORT WORTH, Texas, Aug. 17 /PRNewswire/ -- GAINSCO, INC. (AMEX: GNA) announced the declaration of its regular quarterly cash dividend of $.01 per share and its semi-annual 5 percent stock dividend, both payable on October 15, 1993, to shareholders of record on September 30, 1993. The cash dividend will also be paid on the shares issued as a result of the stock dividend. Cash will be paid for fractional shares based upon the closing price on September 30, 1993. The company's transfer agent, Society National Bank, will accept instructions until the close of business on October 7, 1993, for disposition of nominee stock with regard to fractional shares.
 GAINSCO, INC. is a vertically integrated property and casualty insurance holding company specializing in underwriting excess and surplus lines. Its insurance companies are General Agents Insurance Company of America, Inc., MGA Insurance Company, Inc. and GAINSCO County Mutual Insurance Company. The insurance service subsidiaries include General Agents Premium Finance Company, which offers premium financing programs for general agents in connection with their marketing activities; Agents Processing Systems, Inc., which markets a computer software policy management system to general agents; and Risk Retention Administrators, Inc., which assists managing general agents in forming and operating risk retention groups.
 -0- 8/17/93
 /CONTACT: Lynn Morgen or Edward Nebb, both of Morgen-Walke Associates, 212-850-5600/
 (GNA)


CO: GAINSCO, Inc. ST: Texas IN: INS SU: DIV

TM -- NY005 -- 3358 08/17/93 07:30 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
Words:237
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