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KMART CORPORATION BOARD DECLARES INCREASED COMMON STOCK DIVIDEND

 TROY, Mich., April 27, 1993 /PRNewswire/ -- The board of directors
 of Kmart Corporation (NYSE: KM) today approved a cash dividend to be
 paid on June 14, 1993, on the outstanding shares of the
 corporation's common stock to holders of record on May 13, 1993, in
 the amount of 24 cents per share. This represents an increase in
 the annual rate to 96 cents from 92 cents.
 "This is the 29th consecutive year in which Kmart dividends have
 been raised," said Joseph E. Antonini, Kmart chairman of the board
 and chief executive officer. "The increase reflects our confidence
 in the long-term future of Kmart Corporation."
 The board of directors also approved a cash dividend to be paid on
 June 15, 1993, on the outstanding shares of the corporation's $3.41
 Depositary Shares each representing one-quarter of a share of
 Preferred Equity Redemption Cumulative Stock - PERCS - to holders of
 record on May 27, 1993, in the amount of 85.25 cents per share.
 Kmart Corporation serves America with over 4,000 retail outlets in
 all 50 states in the United States and in Puerto Rico, Canada, the
 Czech Republic and Slovakia. Kmart, currently operating 2,408 Kmart
 stores, is also the parent company for PACE Membership Warehouse,
 Builders Square, PayLess Drug Stores, Waldenbooks, The Sports
 Authority, OfficeMax and Borders.
 Kmart Corporation's stock is listed on the New York, Pacific and
 Midwest Stock Exchanges. Its trading symbol is KM.
 -0- 4/27/93
 /CONTACT: Orren F. Knauer or Lois M. Connelly, Investor Relations, Kmart Corporation, 313-643-1040/
 (KM)


CO: Kmart Corporation ST: Michigan IN: REA SU: DIV

ML -- DE012 -- 1198 04/27/93 09:36 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 27, 1993
Words:272
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