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AMAX BOARD DECLARES DIVIDEND

 NEW YORK, Oct. 7 /PRNewswire/ -- AMAX Inc. (NYSE: AMX) today announced that its board of directors has conditionally declared the regular $1.00 per share quarterly dividend on the AMAX $4.00 series A convertible preferred stock, payable on Dec. 1, 1993 to holders of record at the opening of business on Dec. 1, 1993. The dividend will not be paid in the event the merger of AMAX and Cyprus Minerals Company occurs prior to Dec. 1, 1993; in that case, AMAX expects that holders as of the opening of business on Dec. 1, 1993 of the Cyprus and Alumax Inc. preferred stocks to be received by holders of AMAX series A convertible preferred stock in the merger will be paid dividends on Dec. 1, 1993 by Cyprus and Alumax that in the aggregate will be equal to the dividend that would have been paid by AMAX on its series A convertible preferred stock.
 AMAX directors voted to omit a dividend on common shares because of the impact on earnings of continuing low aluminum and other metal prices.
 -0- 10/7/93
 /CONTACT: Penelope Pappas of AMAX, 212-856-5998/
 (AMX)


CO: AMAX ST: New York IN: MNG SU: DIV

SM -- NY069 -- 9876 10/07/93 16:11 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
Words:207
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