Printer Friendly

SARA LEE CORPORATION SPLITS STOCK, INCREASES DIVIDEND

 SARA LEE CORPORATION SPLITS STOCK, INCREASES DIVIDEND
 CHICAGO, Oct. 29 /PRNewswire/ -- Sara Lee Corporation's (NYSE: SLE)


board of directors today voted to split the corporation's common stock two-for-one and increase its common dividend rate by 16 percent.
 Prior to the corporation's 52nd annual meeting today, the board of directors voted to issue one share of common stock for each share owned on Dec. 1, 1992. The new shares will be distributed on or about Dec. 21, 1992. This is Sara Lee's fourth stock split since 1983.
 The board also voted to increase the quarterly dividend rate on the split stock to 14.5 cents per share, which will raise the annual rate from 50 cents to 58 cents. On a pre-split basis, this is equivalent to increasing the quarterly dividend to 29 cents per share from 25 cents, or the annual rate to $1.16 per share from $1. The common dividend is the 187th consecutive dividend declared by the corporation. It also represents Sara Lee's 17th straight year of common dividend increases.
 The board of directors also declared a quarterly dividend of $0.6875 per share on the convertible adjustable preferred stock. Both dividends are payable Jan. 1, 1993, to stockholders of record on Dec. 1, 1992.
 Sara Lee Corporation, a global food and consumer products company, markets a variety of products under leading brand names, including Hanes, Hanes Her Way, L'eggs, Bali, Champion, Playtex, Dim, Kiwi, Hillshire Farm, Ball Park, Jimmy Dean, Douwe Egberts and Sara Lee.
 -0- 10/29/92
 /CONTACT: E. Denise Stovell, 312-558-8691, or Janet E. Bergman, 312-558-8651, both of Sara Lee Corporation/
 (SLE) CO: Sara Lee Corporation ST: Illinois IN: FOD SU: DIV


CK-OS -- NY030 -- 6504 10/29/92 10:50 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 29, 1992
Words:288
Previous Article:FRANK A. LONG APPOINTED EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER FOR PENNSYLVANIA POWER & LIGHT CO., EFFECTIVE JAN. 1, 1993
Next Article:IRS FORCED TO INVESTIGATE ITS OWN CRIMINAL INVESTIGATION DIVISION
Topics:


Related Articles
SARA LEE CORPORATION DECLARES 188TH CONSECUTIVE QUARTERLY DIVIDEND
SARA LEE CORPORATION DECLARES 190TH CONSECUTIVE QUARTERLY DIVIDEND
SARA LEE CORPORATION REPORTS INCREASED FIRST QUARTER SALES; NET INCOME UP 6.5%
SARA LEE CORPORATION INCREASES DIVIDEND RATE 11.8 PERCENT; BOARD AUTHORIZES STOCK REPURCHASE
SARA LEE CORPORATION REPORTS RECORD FIRST QUARTER SALES OF $4.7 BILLION; NET INCOME UP 12.6 PERCENT
Sara Lee Corporation Declares 204th Consecutive Quarterly Dividend
Sara Lee Corporation Declares 206th Consecutive Quarterly Dividend
Sara Lee Corporation Declares 208th Consecutive Quarterly Dividend
Sara Lee Corporation Adopts Updated Stockholder Rights Plan
Sara Lee Corporation Declares 210th Consecutive Quarterly Dividend

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters