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HANOVER DIRECT, INC., TO PAY DIVIDEND ON 7.5 PERCENT CUMULATIVE CONVERTIBLE PREFERRED STOCK

 WEEHAWKEN, N.J., Sept. 14 /PRNewswire/ -- Hanover Direct, Inc. (AMEX: HNV) today announced that on Sept. 23, 1993, it will pay a semi- annual stock dividend of 3.75 percent of the stated value of the shares to all holders of record as of Sept. 21, 1993. No fractional shares shall be issued, but a cash payment in an amount equal to the value (based on the average per-share closing price (regular way) for a round lot) of such fractional share shall be made in lieu thereof. The transfer agent will accept instructions from brokers as to their requirements for full shares or cash with respect to stock registered in their names, as nominees, until the close of business on Sept. 22, 1993.
 Hanover Direct, Inc., is the largest multi-title direct retailing company in the United States. It publishes catalogs in men's and women's fashions, gifts and home furnishings. Hanover Direct, Inc., is headquartered in Weehawken.
 -0- 9/14/93
 /CONTACT: Michael P. Sherman, executive vice president and secretary, 201-319-3403, or Wayne P. Garten, executive vice president and chief financial officer, 201-319-3452, both of Hanover Direct; or Gregory W. Miller or Robinson Lake/Sawyer Miller Group, 212-484-7404/
 (HNV)


CO: Hanover Direct, Inc ST: New Jersey IN: REA SU: DIV

LG-TW -- NY042 -- 1729 09/14/93 11:32 EDT
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Publication:PR Newswire
Date:Sep 14, 1993
Words:218
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