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CANAL CAPITAL DECLARES PREFERRED STOCK DIVIDEND

 NEW YORK, June 15 /PRNewswire/ -- The board of directors of Canal Capital Corporation today announced that the dividend payable on June 30, 1993 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 on the record date. The dividend shall be payable to stockholders of record on June 22, 1993.
 -0- 6/15/93
 /CONTACT: Reginald Schauder, vice president-finance of Canal Capital, 212-826-6040/


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

WB-SM -- NY073 -- 2217 06/15/93 14:35 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
Words:121
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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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