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BARNETT DECLARES REGULAR DIVIDENDS; ISSUES $100 MILLION OF SUBORDINATED DEBT

 BARNETT DECLARES REGULAR DIVIDENDS;
 ISSUES $100 MILLION OF SUBORDINATED DEBT
 JACKSONVILLE, Fla., Jan. 22 /PRNewswire/ -- Barnett Banks, Inc. (NYSE: BBI) today announced that its board of directors declared regular quarterly dividends on the company's common and preferred stock and that it has issued $100 million in subordinated debt.
 Directors declared a regular dividend of $.33 per common share payable on April 1. They also declared a regular dividend of $.625 on Barnett's Series B Convertible Preferred Stock payable on that same date.
 Directors declared a regular dividend of $1.125 on the company's Series A Convertible Preferred Stock and a dividend of $1.00 on the company's Series C Convertible Preferred Stock. Both are payable on March 31.
 All of these dividends are payable to shareholders of record on March 9.
 The 15-year notes, underwritten by a team led by Lehman Brothers, Inc., carry a coupon of 8.5 percent. Subordinated debt qualifies as Tier 2 capital under current regulatory guidelines.
 As a result of the issue, Barnett's total risk-based capital is increased to more than 10.7 percent compared to a regulatory requirement of 8 percent under 1992 rules. The company's total risk-based capital now exceeds $2.6 billion.
 With $32.7 billion in assets and 592 offices in Florida and Georgia, Barnett is Florida's leading financial institution and the 20th-largest in the United States. Its stock (BBI) is listed on the New York Stock Exchange.
 -0- 1/22/92
 /CONTACT: Bob Stickler (media) 904-791-5437 (office) or 904-396-9284 (home), or Helen Rowan (analysts) 904-791-7627 (office) or 904-272-6915 (home), both of Barnett Banks, Inc.
 (BBI) CO: Barnett Banks, Inc. ST: Florida IN: FIN SU: DIV


AW-AK -- FL009 -- 2310 01/22/92 12:38 EST
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Publication:PR Newswire
Date:Jan 22, 1992
Words:284
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