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CCB ANNOUNCES STOCK SPLIT AND INCREASED CASH DIVIDEND

 CCB ANNOUNCES STOCK SPLIT AND INCREASED CASH DIVIDEND
 DURHAM, N.C., July 21 /PRNewswire/ -- The Board of Directors of CCB


Financial Corporation (NASDAQ-NMS: CCBF) at their regular meeting held July 21, 1992 approved a 3 for 2 stock split to be effected in the form of a 50 percent stock dividend and increased the cash dividend 11.1 percent. These dividends will be payable Oct. 1, 1992 to shareholders of record Sept. 15, 1992. The cash dividend on the new shares will be $.30 per quarter or $1.20 annually compared to $1.08 as adjusted at the present rate.
 W.L. Burns, Jr., President and CEO, commented: "The stock split and the cash dividend increase are an indication of the Board of Directors' confidence in the future of CCB Financial Corporation. Dividend action is considered each year at the July meeting of the board and CCB has increased its dividend for 28 consecutive years. Of the 12,000 companies that Moody's Investors Service follows, only 313 have increased their cash dividends for at least 10 consecutive years. Within the group of 313, CCB ranks No. 90 with a ten year dividend growth rate of 13.1 percent.
 -0- 7/21/92
 /CONTACT: W. Harold Parker, Jr., CCB Financial Corporation, 919-683-7631/
 (CCBF) CO: CCB Financial Corporation ST: North Carolina IN: FIN SU: DIV


CM -- CH010 -- 1480 07/21/92 16:00 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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