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CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND

 NEW YORK, March 12 /PRNewswire/ -- The board of directors of Canal Capital Corporation today announced that the dividend payable on March 31, 1993, on its $1.30 exchangeable preferred stock would be paid in additional shares of preferred stock at a 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 on the record date. The dividend shall be payable to stockholders of record on March 22, 1993.
 -0- 3/12/93
 /CONTACT: Canal Capital public relations, 212-826-6040/


CO: Canal Capital Corporation ST: New York IN: SU: DIV

GK-TS -- NY021 -- 5464 03/12/93 11:09 EST
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Publication:PR Newswire
Date:Mar 12, 1993
Words:118
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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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