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SPI PHARMACEUTICALS INCREASES FIRST QUARTER DIVIDEND

 COSTA MESA, Calif., March 18 /PRNewswire/ -- The board of directors of SPI Pharmaceuticals Inc. (AMEX: SPI) declared a first quarter dividend of 28 cents per share, which consists of a 6 1/4 cents a share dividend, payable in cash combined with a 1.4 percent common stock dividend equal to 21 3/4 cents per share. This is a 5.6 percent increase compared to the dividend for the last quarter of 1992.
 The cash dividend is payable April 15, 1993, to shareholders of record April 1, 1993. The stock dividend will be payable April 15, 1993, to shareholders of record April 1, 1993, based on SPI's closing price on the American Stock Exchange on March 17, 1993. The board said future dividends could be paid in cash or stock or a combination of both.
 In 1992, SPI reported record worldwide sales of $476 million and record net income of $1.90 a share. SPI paid an annualized dividend for 1992 of $1.06 a share on a cash equivalent basis. The first quarter dividend is equal to $1.12 a share annualized on a cash equivalent basis.
 SPI Pharmaceuticals, headquartered in Costa Mesa, manufactures, markets and distributes more than 600 prescription and non- prescription pharmaceuticals in more than 60 countries, including North and Latin America, Western and Eastern Europe and the Far East.
 -0- 3/18/93
 /CONTACT: Paul Knopick of SPI Pharmaceuticals, 714-545-0100, ext. 2465/
 (SPI)


CO: SPI Pharmaceuticals Inc. ST: Caifornia IN: MTC SU: DIV

BP-JL -- LA009 -- 7323 03/18/93 09:03 EST
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Publication:PR Newswire
Date:Mar 18, 1993
Words:258
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