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WACHOVIA ANNOUNCES DIVIDEND INCREASE AND TWO-FOR-ONE-STOCK SPLIT

 WINSTON-SALEM, N.C., Jan. 22, /PRNewswire/ -- The board of directors of Wachovia Corporation (NYSE: WB) today declared a cash dividend of $.54 per common share for the first quarter of 1993. This represents an 8 percent increase over the $.50 per share paid in the previous quarter and in the first quarter of 1992. The dividend is payable on March 1, 1993, to shareholders of record on February 8, 1993.
 The corporation's board of directors also declared a two-for-one split of its common shares to be effected in the form of a 100 percent share dividend. The stock dividend is payable April 1, 1993, to shareholders of record on March 8, 1993.
 The additional shares automatically will be issued and sent to common shareholders of record March 8, and no action is required on their part to receive the stock dividend.
 Wachovia Corporation's common shares are traded on the New York Stock Exchange under the symbol WB.
 -0- 1/22/93
 /CONTACT: (Media) Nancy P. Lovelace, 919-770-5696; or (Analyst) Robert S. McCoy, Chief Financial Officer, 919-770-5926, or James C. Mabry, Investor Relations, 919-770-5788, all of Wachovia Corporation/
 (WB)


CO: Wachovia Corporation ST: North Carolina IN: FIN SU: DIV

CM -- CH007 -- 7920 01/22/93 12:45 EST
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Publication:PR Newswire
Date:Jan 22, 1993
Words:207
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