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AMAX BOARD VOTES TO OMIT JUNE QUARTERLY DIVIDEND

 NEW YORK, April 1 /PRNewswire/ -- AMAX Inc. (NYSE: AMX) announced that its board of directors today voted to omit the June quarterly dividend on common shares. The company said the action results from the impact on earnings of continuing low aluminum and other metal prices. AMAX Chairman and Chief Executive Officer Allen Born said the board is acting prudently to conserve cash and improve financial flexibility.
 The directors approved payment of the regular quarterly dividends of $1.00 per share on the $4.00 Series A convertible preferred stock, and 75 cents per share on the Series B convertible preferred stock, each payable Sept. 1, 1993 to shareholders of record Aug. 10, 1993.
 -0- 4/1/93
 /CONTACT: Penelope Pappas of AMAX, 212-856-5998/
 (AMX)


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

PS -- NY061 -- 2012 04/01/93 12:14 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 1, 1993
Words:143
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