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AMSOUTH BANCORPORATION TO INCREASE QUARTERLY DIVIDEND 11.5 PERCENT TO $.29

 BIRMINGHAM, Ala., Nov. 19 ~PRNewswire~ -- AmSouth Bancorporation's (NYSE: ASO) board of directors today voted to increase the corporation's quarterly cash dividend 11.5 percent from $.26 to $.29 per share.
 The dividend is payable on Jan. 2, 1993, to shareholders of record as of Dec. 11, 1992.
 In making today's announcement, AmSouth chairman and chief executive officer, John W. Woods, said, "Our objectives for shareholders are threefold -- to provide attractive dividend returns on a consistent basis, to achieve long-term appreciation in the value of AmSouth stock, and to remain one of the strongest financial institutions in the nation."
 The 1992 dividend increase marks the 19th consecutive year that AmSouth has increased dividends to shareholders, a record that has earned the corporation the distinction of "dividend achiever" by Moody's Investors Service.
 Regarding stock price performance, Woods said, "The per market price of AmSouth stock has increased more than 40 percent since the beginning of 1992." He added that based on dividends reinvested in stock plus the increase in stock price, a $100 investment in AmSouth when the company was created in 1972 was worth $735 at year-end 1991 and $1,358 as of Sept. 30.
 AmSouth continues to rank among top performers in terms of soundness and strength, according to Woods. At Sept. 30, AmSouth shareholders' equity had increased to $765.8 million, and the corporation's equity to assets ratio of 8.13 percent at Sept. 30 ranks AmSouth among the highest capitalized major bank holding companies in the Southeast.
 Through Sept. 30, AmSouth's year-to-date earnings totaled $75.0 million, a 27.3 percent increase compared with the first three quarters of 1991. Earnings per share for the same three quarter periods increased 15.3 percent from $1.63 last year to $1.88 this year.
 "We are delighted that our record earnings performance the last three consecutive quarters support both our short- and long-term shareholder value objectives," Woods said.
 AmSouth Bancorporation, headquartered in Birmingham, reported third quarter assets of $9.4 billion. The corporation presently operates 153 banking offices throughout Alabama, 23 offices in northwest Florida, and three offices in the Nashville area of Tennessee. The corporation also operates 15 mortgage banking offices in eight southeastern states.
 AmSouth Bancorporation anticipates completing the acquisition of First Chattanooga Financial Corporation, parent company of First Federal Bank FSB, during January 1993. First Chattanooga reported third quarter assets of $1.0 billion and operates 18 banking offices in Tennessee and one office in northwest Georgia.
 -0- 11~19~92
 ~CONTACT: Harvey E. Campbell, 205-326-5316, or Mary Edwards, 205-583-4439, both of AmSouth Bancorporation~
 (ASO)


CO: AmSouth Bancorporation ST: Alabama IN: FIN SU: DIV

BR-EA -- AT006 -- 2945 11~19~92 13:24 EST
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Publication:PR Newswire
Date:Nov 19, 1992
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