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WACKENHUT ANNOUNCES STOCK AND INCREASED CASH DIVIDENDS

 WACKENHUT ANNOUNCES STOCK AND INCREASED CASH DIVIDENDS
 CORAL GABLES, Fla., Nov. 2 /PRNewswire/ -- On Oct. 31, 1992, the


board of directors of The Wackenhut Corporation (NYSE: WAK), at a regular quarterly meeting, declared a quarterly dividend on the common stock of 18 cents per share to stockholders of record on Nov. 13, 1992, payable on Jan. 4, 1993. This compares to a 15 cent per share quarterly dividend throughout the previous year.
 In addition, the board of directors declared a stock dividend in the nature of a stock split to stockholders of record on Nov. 13, 1992, of one share of non-voting common stock for each share of existing common stock.
 Certificates for the new stock, to be referred to as Series B Common Stock, will be distributed on Jan. 4, 1993. The Series B Common Stock has been declared to have all the rights and privileges of the existing common stock, with the exception of voting privileges.
 The chairman of the board and chief executive officer of the corporation, George R. Wackenhut, said the stock dividend is being declared "to create a more flexible financial environment within which to accommodate future growth opportunities for the corporation. The increased cash dividend reflects the board's confidence in the company's prospects for the future."
 Wackenhut added that it is the corporation's position that the stock dividend in the nature of a stock split does not constitute taxable income, but that stockholders should consult a tax advisor regarding the consequences of any disposition of shares.
 The Wackenhut Corporation was established in 1954 and has grown steadily through the years to become one of the nation's largest providers of private security and investigative services, with annualized revenues of over $600 million.
 The corporation became publicly owned with over-the-counter sales of the stock in 1966, and has been traded on the New York Stock Exchange since 1980. It has over 40,000 employees throughout the United States and in over 44 other countries.
 In recent years, the corporation has diversified its services to business clients and government agencies to include vocational training, educational services, the management of correctional facilities, fire prevention services and institutional food services.
 -0- 11/2/92
 /CONTACT: Patrick F. Cannan of The Wackenhut Corporation, 305-666-5656/
 (WAK) CO: The Wackenhut Corporation ST: Florida IN: SU: DIV


JB-AK -- FL004 -- 1524 11/02/92 10:52 EST
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Publication:PR Newswire
Date:Nov 2, 1992
Words:393
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