BROAD INC. ANNOUNCES QUARTERLY DIVIDENDS
BROAD INC. ANNOUNCES QUARTERLY DIVIDENDS LOS ANGELES, Nov. 8 /PRNewswire/ -- Directors of Broad Inc.
(NYSE: BRO) have declared a regular quarterly cash dividend of five cents ($.05) per share of Common Stock, and four-and-a-half cents ($.045) per share of Nontransferable Class B Stock. Cash dividends are payable on Nov. 26, 1991 to shareholders of record Nov. 19, 1991.
Broad Inc. directors also declared the first quarterly cash dividend on the recently issued $1.11 Depositary Shares each representing one-fifth of a share of Series A Mandatory Conversion Premium Dividend Preferred Stock. The first dividend payment of $.259 per share is for the period from the date of issue, Oct. 21, 1991, to and including Jan. 14, 1992. It is payable on Jan. 15, 1992 to shareholders of record Jan. 2, 1992. Thereafter, dividends accrue at the rate of $.2775 per quarter and are payable subject to their declaration by the board of directors on Jan. 15, April 15, July 15 and Oct. 15 of each year. Dividends will cease to accrue in respect of the Depositary Shares on the Mandatory Conversion Date (Oct. 15, 1994) or on the date of their earlier redemption or automatic conversion. Broad Inc. is a leading financial services holding company with more than $13 billion of assets owned or under management. -0- 11/8/91 /CONTACT: Ann Julsen of Broad Inc., 310-312-5000/ (BRO) CO: Broad Inc. ST: California IN: FIN SU: DIV AL-KJ -- LA012 -- 2657 11/08/91 15:10 EST
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|Date:||Nov 8, 1991|
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