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VALSPAR ANNOUNCES STOCK SPLIT AND CASH DIVIDEND; TWO NEW DIRECTORS ELECTED

 VALSPAR ANNOUNCES STOCK SPLIT AND CASH DIVIDEND;
 TWO NEW DIRECTORS ELECTED
 MINNEAPOLIS, Feb. 26 /PRNewswire/ -- The Valspar Corporation (AMEX: VAL), a major coatings company, announced that its board of directors approved a 2-for-1 stock split, effected in the form of a 100 percent stock dividend, for all common stockholders of record March 9, 1992, to be distributed on March 27, 1992. The board also declared a regular quarterly cash dividend on shareholders' pre-split shares of $.18 per share, such dividend to be paid on April 15, 1992, to all common stockholders of record March 9, 1992.
 At the annual meeting held on Feb. 26, 1992, Lawrence Perlman, president and chief executive officer, Control Data Corporation and Gregory R. Palen, chairman and chief executive officer, Spectro Alloys Corporation, were elected to the Board of Directors of The Valspar Corporation, filling a vacancy and increasing board membership from ten to eleven.
 Perlman joined Control Data Corporation in 1980 and served as president of Commercial Credit Company and Imprimis Technology, Inc., both CDC subsidiaries, prior to being named chief executive officer in 1990.
 Palen has been president of Palen/Kimball Company, a mechanical service company, since 1983. He became a principal shareholder and chief executive officer of Spectro Alloys Corporation with the acquisition of this business in 1988. Spectro Alloys is a manufacturer and recycler of secondary aluminum casting alloys.
 -0- 2/26/92
 /CONTACT: Paul C. Reyelts of Valspar, 612-375-7702/
 (VAL) CO: The Valspar Corporation ST: Minnesota IN: SU: PER


AL -- MN011 -- 2828 02/26/92 13:03 EST
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Publication:PR Newswire
Date:Feb 26, 1992
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