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COLOR TILE DECLARES INITIAL DIVIDEND ON ITS OUTSTANDING SERIES A SENIOR INCREASING RATE PREFERRED STOCK

 COLOR TILE DECLARES INITIAL DIVIDEND ON ITS OUTSTANDING
 SERIES A SENIOR INCREASING RATE PREFERRED STOCK
 FORT WORTH, Texas, Sept. 29 /PRNewswire/ -- On Sept. 22, 1992, the board of directors of Color Tile Inc. declared an initial dividend of $.5564 per share on its outstanding Series A Senior Increasing Rate Preferred Stock, par value $1.00 per share (the "Series A Stock"), for the period beginning on Aug. 13, 1992, the date on which such shares were issued, and ending on Oct. 14, 1992. This dividend will be paid on Oct. 15, 1992 to all shareholders of record on Sept. 30, 1992. In accordance with the terms of the Series A stock, this dividend was calculated at the quarterly rate of $.8125 per share and pro-rated for the number of days in the current quarter that such shares were issued and outstanding.
 Color Tile is the largest specialty retailer of floor covering products in the United States and Canada, principally serving the do-it- yourself and buy-it-yourself residential remodeling market. Color Tile sells its line of products through approximately 800 retail stores.
 -0- 9/29/92
 /CONTACT: Alan J. Bethscheider of Color Tile, 817-870-9400/ CO: Color Tile, Inc. ST: Texas IN: REA SU: DIV


TM-SM -- NY083 -- 4581 09/29/92 17:43 EDT
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Publication:PR Newswire
Date:Sep 29, 1992
Words:211
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