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KYSOR INCREASES DIVIDEND FOR SECOND TIME IN 1993

 CADILLAC, Mich., Oct. 29 /PRNewswire/ -- George R. Kempton, Chairman of the Board and Chief Executive Officer of Kysor Industrial Corporation (NYSE: KZ), announced the following action taken at the Board of Directors meeting held on Friday, Oct. 29, 1993:
 DIVIDEND ANNOUNCEMENT - The Board of Directors
 approved an increase in the quarterly dividend rate
 to $.12 per share, payable Jan. 27, 1994 on stock
 of record Jan. 12, 1994. This increase, together
 with the one announced in the second quarter,
 represents a 20 percent increase in the declared dividend
 rate during 1993 from $.40 to $.48 on an annualized
 basis.
 FINANCIAL INFORMATION - As previously reported in
 Kysor's press release dated Oct. 21, 1993, sales
 and revenues for the quarter grew to $74.4 million
 compared to $72.4 million in 1992. Net income was
 $3.3 million or $.54 per share compared to the
 $3.8 million or $.66 per share reported during the same
 period in 1992. Third quarter 1993 results include
 a charge of $.03 per share reflecting the nine-month
 impact of the new federal income tax legislation.
 For the nine-month period ended Sept. 30, sales
 and revenues increased 8 percent to $208.3 million and
 income before the cumulative effect of the
 accounting change for postretirement health care
 benefits was $8.2 million compared to $7.2 million
 last year -- an increase of 14 percent. Year-to-date
 earnings per share before the accounting change were
 $1.32 compared to $1.22 during 1992.
 Kysor Industrial Corporation is a quality producer of refrigeration systems for the supermarket industry and heavy-duty vehicle and marine components serving the transportation industries. The company has manufacturing operations in six states as well as Great Britain and Germany.
 -0- 10/29/93
 /CONTACT: Terry M. Murphy, V.P., Chief Financial Officer, or Richard G. De Boer, Treasurer of Kysor Industrial, 616-779-2200/
 (KZ)


CO: Kysor Industrial Corporation ST: Michigan IN: SU: DIV

ML -- DE012 -- 8445 10/29/93 11:03 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
Words:325
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