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CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND

 CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND
 NEW YORK, Dec. 18 /PRNewswire/ -- The board of directors of Canal


Capital Corporation (NYSE: COW) today announced that the dividend payable on Dec. 31, 1991, on its $1.30 exchangeable preferred stock would be paid in additional shares of preferred stock at the rate of .0325 shares for each share of preferred stock outstanding.
 A cash dividend will be paid in lieu of fractional shares that would otherwise be issuable at the market value of the record date. The dividend shall be payable to stockholders of record on Dec. 27, 1991.
 -0- 12/18/91
 /CONTACT: Canal Capital Corporation public relations, 212-826-6040/
 (COW) CO: Canal Capital Corporation ST: New York IN: SU: DIV PS -- NY068 -- 3599 12/18/91 17:07 EST
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Publication:PR Newswire
Date:Dec 18, 1991
Words:128
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/C O R R E C T I O N -- CANAL CAPITAL CORPORATION/
CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND
CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND

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