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HECHINGER ANNOUNCES DIVIDEND

 HECHINGER ANNOUNCES DIVIDEND
 LANDOVER, Md., July 21 /PRNewswire/ -- Hechinger Company


(NASDAQ: HECHA, HECHB) today announced quarterly cash dividends of 4 cents per share on its outstanding Class A common stock and $.016 per share on its outstanding Class B common stock. Both dividends are payable on Aug. 21, 1992, to stockholders of record on July 31, 1992.
 The company also announced that it plans to open a Home Quarters Warehouse store in Albany, N.Y. John Hechinger Jr., president and chief executive officer of Hechinger Company, said, "We are excited about expanding into the capital of New York. The new Home Quarters Warehouse store is scheduled to open early next year." In addition, the company announced that its Home
Quarters Warehouse division will close its store in Tallahassee, Fla. "The current 35,000 square foot site does not allow HQ to expand to its large warehouse format, which is essential to the HQ concept and consistent with its other 37 locations," stated Hechinger.
 In other news, this week the Hechinger division broke ground for an 85,000 square foot Home Project Center in Dale City, Va. Commenting on the new location, Hechinger said, "The Dale City location is part of the ongoing repositioning of the Hechinger division to the larger more productive Home Project Center format. The new 85,000 square foot facility will replace a smaller traditional Hechinger store."
 Hechinger Company is a leading specialty retailer, currently operating 122 do-it-yourself home centers. The company serves the growing home improvement industry through its three divisions: Hechinger, Home Quarters Warehouse, and Triangle Building Centers.
 -0- 7/21/92
 /CONTACT: W. Clark McClelland, senior vice president-finance, Hechinger, 301-925-3105/
 (HECH) CO: Hechinger Company ST: Maryland IN: REA SU: DIV


DC-TW -- DC010 -- 1263 07/21/92 11:09 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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