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MERIDIAN DECLARES FIVE PERCENT STOCK DIVIDEND AND INCREASES QUARTERLY CASH DIVIDEND RATE BY 50 PERCENT

 CINCINNATI, Nov. 23 ~PRNewswire~ -- Meridian Diagnostics, Inc. (NASDAQ~NMS: KITS) today announced that the board of directors declared a special fiscal year-end five percent stock dividend to shareholders of record Dec. 4, 1992. The payment date for this stock dividend is Dec. 14, 1992. Cash will be paid in lieu of the issuance of fractional shares.
 The board also moved to increase the regular quarterly cash dividend from $0.0167 to $0.0250 per share. At the new annual indicated rate of $0.10 per share, the cash dividend rate has been increased 50 percent over the prior rate of $0.0668 per share. Taking into effect the five percent stock dividend, the cash dividend rate to current stockholders has been increased by 57 percent.
 The company indicated that these dividend actions were being taken as a result of Meridian's strong performance during fiscal 1992 and the favorable outlook for business during fiscal 1993. Commenting on the dividends, William J. Motto, chairman stated that a stock dividend was chosen over a special year-end cash dividend to reserve cash for a number of potential product line acquisitions. Jerry L. Ruyan, chief executive officer, added that the regular cash dividend was increased in line with the company's general dividend policy that calls for the payment of between 30 percent and 35 percent of forecasted annual net earnings.
 Meridian Diagnostics, Inc. develops, manufactures and markets a variety of immunodiagnostic test kits, purified reagents such as antigens and monoclonal and polyclonal antibodies, and related diagnostic products. The company is a leader in the area of rapid diagnosis of infectious human diseases. All Meridian products are used outside the human body and require little or no special instrumentation or equipment. Domestic and international market segments consist of hospital, commercial and reference laboratories, and physicians' offices. The company has a leading market position in fungal serology, and is the leader in parasite and bacterial collection, preservation and transportation systems. The company's shares are traded through NASDAQ~NMS (symbol: KITS).
 -0- 11~23~92
 ~CONTACT: Jerry L. Ruyan of Meridian Diagnostics, Inc., 513-271-3700~
 (KITS)


CO: Meridian Diagnostics, Inc. ST: Ohio IN: MTC SU: DIV

BM -- CL014 -- 0506 11~23~92 12:01 EST
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Publication:PR Newswire
Date:Nov 23, 1992
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