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UNOCAL BOARD OF DIRECTORS INCREASES QUARTERLY DIVIDEND BY 14 PERCENT

 LOS ANGELES, Sept. 27 /PRNewswire/ -- Unocal Corp.'s board of directors today increased the regular quarterly cash dividend by 14 percent -- from 17 1/2 cents to 20 cents per common share.
 The increased dividend is payable Nov. 10, 1993, to shareholders of record Oct. 12, 1993.
 "The dividend rate increase reflects the board's confidence in Unocal's future growth prospects and the company's strong financial position," said Richard J. Stegemeier, Unocal chairman and chief executive officer.
 Stegemeier pointed to the achievement of the cost reduction and operating improvement initiatives undertaken in early 1992 as a major factor behind the dividend increase.
 "In addition," Stegemeier said, "the accelerated development drilling program and the company-wide performance improvement program have started to yield results."
 The previous increase in Unocal's common stock dividend was in September 1989. At that time, the board increased the dividend by 40 percent and split the stock two-for-one.
 -0- 9/27/93
 /CONTACT: Barry Lane, 213-977-7601/


CO: Unocal Corp. ST: California IN: OIL SU: DIV

EH -- LA025 -- 5999 09/27/93 14:35 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
Words:175
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