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APOGEE ENTERPRISES RAISES DIVIDEND TO 7.5 CENTS FROM 7 CENTS; NINETEENTH CONSECUTIVE INCREASE FOR LEADING CURTAINWALL FIRM

 MINNEAPOLIS, Oct. 18 /PRNewswire/ -- Apogee Enterprises, Inc. (NASDAQ-NMS: APOG) today announced its board increased the quarterly dividend to 7.5 cents per common share from 7 cents, effective with the Nov. 18 payment to shareholders of record Nov. 2. The increase marked 19 consecutive years of dividend growth since Apogee began paying dividends in 1974.
 The dividend increase reflects the board's desire to maintain a pattern of growing cash returns to shareholders, according to the company. Although it is Apogee's long-term policy to pay approximately 20-25 percent of prior year earnings in dividends, the company has paid more than that percentage in recent years.
 "We expect earnings to recover during the coming years and believe it is preferable to pay shareholders more than the targets would indicate in the near term -- rather than limiting or reducing dividends during our currently weak market environment," said Donald W. Goldfus, chairman and chief executive officer.
 Apogee earned 34 cents per share in the fiscal year ended Feb. 27, 1993, and has reported net earnings of 29 cents per share in the six months ended Aug. 28, 1993. Approximately 13.2 million shares are currently outstanding.
 Apogee Enterprises is an industry leader in the fabrication, installation and distribution of glass and aluminum. Its products and services include glass, windows and curtainwall for commercial and institutional construction and remodeling markets; curtainwall installation at major high-rise construction sites; design, manufacture and installation of institutional and government security systems; metal and glass coating services; fabrication, sale and installation of automotive glass; and such consumer-oriented products as venetian blinds, shutters, picture frame glass and computer anti-glare screens. Headquartered in Minneapolis, the company's stock is traded on NASDAQ's National Market System under the symbol APOG.
 /NOTE: For more information on Apogee Enterprises, Inc., via fascimile at no cost, simply dial 1-800-PRO-INFO and enter the company code number 014./
 -0- 10/18/93
 /CONTACT: Donald W. Goldfus, chairman and CEO, or William C. Gardner, treasurer, both of Apogee Enterprises, 612-835-1874; or Michael Rosenbaum of the Financial Relations Board, 312-266-7800, for Apogee/
 (APOG)


CO: Apogee Enterprises, Inc. ST: Minnesota IN: CST SU: DIV

CP-DS -- MN011 -- 3370 10/18/93 11:51 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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