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SHAWMUT NATIONAL REINSTATES COMMON STOCK DIVIDEND CORPORATION TO PAY 10 CENTS PER COMMON SHARE

 HARTFORD, CT., and BOSTON, March 25 /PRNewswire/ -- Shawmut National Corporation (NYSE: SNC) today announced that it has reinstated aquarterly dividend of $.10 per share on its common stock. Thedividend is payable April 15 to shareholders of record April 5.
 "We are pleased to announce the resumption of the dividend to ourcommon stockholders," said Joel B. Alvord, chairman and chiefexecutive officer of Shawmut National Corporation. "This decisionunderscores our continuing progress and that our recovery is wellon the road to completion. We have had six consecutive profitablequarters, dramatic improvement in asset quality, and we expect todo even better in 1993."
 The corporation last paid a dividend in October, 1990. At that time, the quarterly dividend was $.25 per share.
 As of March 20, 1993, Shawmut National Corporation had 93.1 million shares of common stock outstanding.
 Shawmut National Corporation, a superregional bank holding company with assets of $25.3 billion, maintains dual headquarters in Hartford, Connecticut and Boston, Massachusetts. Shawmut National Corporation is a leading provider of financial services to consumers and small- to medium-sized businesses in southern New England. The corporation is the largest residential mortgage originator in the region and a regional leader in the trust business. The corporation also provides financial services to corporate customers, correspondent banks, and governmental units in New England and select national markets.
 -0- 3/25/93
 /CONTACT: Robert L. Guenther, 203-728-4872 or Thomas R. Rice, 203-240-1267/
 (DEC)


CO: Shawmut National ST: Massachusetts, Connecticut IN: FIN SU: DIV

TM -- NE007 -- 9673 03/25/93 14:51 EST
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Publication:PR Newswire
Date:Mar 25, 1993
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