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HERITAGE FINANCIAL SERVICES VOTES TWO-FOR-ONE STOCK SPLIT; DECLARES REGULAR QUARTERLY DIVIDEND

 HERITAGE FINANCIAL SERVICES VOTES TWO-FOR-ONE STOCK SPLIT;
 DECLARES REGULAR QUARTERLY DIVIDEND
 TINLEY PARK, Ill., April 15 /PRNewswire/ -- The board of directors of Heritage Financial Services, Inc. (NASDAQ-NMS: HERS) late yesterday declared a two-for-one stock split, payable May 15, 1992, to shareholders of record at the close of business on April 30, 1992. The split will double the company's number of authorized shares and will increase the issued and outstanding common shares from 3,917,136 to 7,834,272.
 The board of directors also declared a regular quarterly dividend of 15 cents per share, payable May 8, 1992, to shareholders of record at the close of business on April 27, 1992. The dividend rate is the same amount as paid in the preceding quarter and is consistent with Heritage Financial Services' annual dividend plan of 60 cents per share announced in January 1992.
 Reflecting the split, it is intended that future quarterly dividends will be paid at a rate of 7-1/2 cents per share.
 Heritage Financial Services, Inc. is a multibank holding company with assets of $739 million. It is headquartered in southwest suburban Chicago and operates nine banking offices located in Tinley Park (two), Orland Park, Oak Lawn, Crestwood, Palos Heights, Mokena, Blue Island and Country Club Hills. The company also operates a trust company which serves all locations.
 -0- 4/15/92
 /CONTACT: Paul A. Eckroth, senior vice president and treasurer of Heritage Financial Services, 708-532-8008, ext. 2239/
 (HERS) CO: Heritage Financial Services Inc. ST: Illinois IN: FIN SU: DIV


CK-TS -- NY060 -- 8694 04/15/92 12:23 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:262
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