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BAKER FENTRESS DECLARES YEAR-END $.19 DIVIDEND; 1992 CAPITAL GAIN DISTRIBUTION TOTALS $1.42

 BAKER FENTRESS DECLARES YEAR-END $.19 DIVIDEND;
 1992 CAPITAL GAIN DISTRIBUTION TOTALS $1.42
 CHICAGO, Nov. 5 /PRNewswire/ -- Directors of Baker, Fentress & Co. (NYSE: BKF), a Chicago-based closed-end fund, today declared a 1992 realized long-term capital gain distribution of $1.13 per share, payable Dec. 9, 1992, to shareholders of record Nov. 16, 1992. Earlier in 1992, on Sept. 10, the board declared a $.29 per share distribution from capital gain realized, but not distributed, during the November-December 1991 period.
 The $1.42 total 1992 capital gain distribution, although declared in two installments, will be paid in one amount on Dec. 9, 1992, to shareholders of record Nov. 16, 1992.
 Shareholders will have the option of receiving this distribution in one of three forms: all in company shares, all in cash, or a combination of 70 percent company shares and 30 percent cash.
 The directors also declared a year-end dividend of $.19 per share from undistributed net investment income, payable Dec. 9, 1992, to shareholders of record Nov. 16, 1992. This, added to the $.20 per share mid-year dividend the company previously paid June 3, 1992, results in 1992 ordinary income dividends of $.39 per share.
 The company's policy is to pay annually to shareholders a total of dividend and capital gain distributions that equal at least 8 percent of the average net asset value for the 12-month period ended Oct. 31 of that year. For 1992, the relevant average net asset value was $21.60 per share, making the total 1992 calendar year distributions about 8.4 percent of the target payout.
 Because Baker Fentress stock trades at a discount to net asset value, total 1992 distributions as a percent of the stock's market price is even higher.
 -0- 11/5/92
 /CONTACT: James P. Koeneman of Baker Fentress, 312-236-9190; or Phillip A. Urion of P.A. Urion Firm, Inc., 312-346-0123, for Baker Fentress/
 (BKF) CO: Baker, Fentress & Co. ST: Illinois IN: FIN SU: DIV


GK -- NY102 -- 7779 11/05/92 13:52 EST
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Publication:PR Newswire
Date:Nov 5, 1992
Words:334
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