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STANDARD FEDERAL BANK DECLARES AN 8-PERCENT INCREASE IN ITS REGULAR QUARTERLY DIVIDEND, FROM $0.13 PER SHARE TO $0.14 PER SHARE

 TROY, Mich., July 15 /PRNewswire/ -- Thomas R. Ricketts, chairman and chief executive officer of Standard Federal Bank (NYSE: SFB), announced today that the board of directors of the bank has declared a regular quarterly dividend of $0.14 per share to stockholders of record on Aug. 18, 1993, payable Sept. 1, 1993, representing an increase of 8 percent compared to the bank's $0.13 per share dividend paid by the bank for each of the previous two quarters.
 This is the fourth dividend increase in the last 18 months and reflects the bank's continued higher levels of operating earnings and steadily improving capital ratios. The bank will continue to follow its policy of considering future dividend increases based upon then existing levels of earnings and capital.
 -0- 7/15/93
 /CONTACT: Joseph Krul, senior vice president and chief financial officer, Stockholder Relations, Standard Federal Bank, 800-643-9600/
 (SFB)


CO: Standard Federal Bank ST: Michigan IN: FIN SU: DIV

KE -- DE024 -- 2070 07/15/93 14:31 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
Words:166
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