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CALIFORNIA FEDERAL BANK DECLARES FIRST DIVIDEND ON PREFERRED STOCK

 LOS ANGELES, April 22 /PRNewswire/ -- California Federal Bank (NYSE: CAL) said today that its board of directors has declared a dividend of 4.84375 cents per share on the bank's 7.75 percent noncumulative convertible preferred stock, Series A, for the nine-day period commencing March 23, 1993, the date of issuance, through March 31, 1993. The dividend will be paid on May 17, 1993, to holders of record at the close of business on May 3, 1993.
 The dividend is the first declared by the bank since the 3.74 million preferred shares were sold in a highly oversubscribed offering in March 1993.
 California Federal Bank, FSB, with approximately $17 billion in assets, is the nation's fifth-largest publicly traded savings institution. The bank provides retail banking services through 182 savings and lending offices in California, Florida, Nevada and Georgia.
 -0- 4/22/93
 /CONTACT: James F. Hurley, 213-930-9755, or Frank W. Moore, 213-932-4203, both of California Federal Bank/
 (CAL)


CO: California Federal Bank ST: California IN: FIN SU: DIV

KJ -- LA034 -- 9527 04/22/93 13:41 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:178
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