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CONSOLIDATED FREIGHTWAYS DECLARES QUARTERLY DIVIDEND ON PREFERRED STOCK

 CONSOLIDATED FREIGHTWAYS
 DECLARES QUARTERLY DIVIDEND ON PREFERRED STOCK
 PALO ALTO, Calif., May 14 /PRNewswire/ -- The board of directors of Consolidated Freightways Inc. (NYSE: CNF) today declared an initial quarterly dividend of 37.6 cents per share on depositary shares for the company's Series C Conversion Preferred Stock. Each depositary share is equal to one tenth of a share of this series of preferred stock.
 The dividend is payable on June 15, 1992 to depositary shareholders of record as of May 26, 1992. The initial dividend is cumulative from March 18, 1992, the date the depositary shares were issued. Future quarterly dividend payments on the depositary shares will be 38.5 cents per share. The annual dividend on the depositary shares is $1.54.
 Consolidated Freightways Inc. is a diversified transportation company with businesses in long-haul and regional next-day trucking, air freight, intermodal rail and ocean freight shipping, customs brokerage and logistics management services.
 -0- 5/14/92
 /CONTACT: J. R. Allen of Consolidated Freightways, 415-494-2900/
 (CNF) CO: Consolidated Freightways Inc. ST: California IN: TRN SU: DIV


MC-RM -- SJ003 -- 0503 05/14/92 18:10 EDT
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Publication:PR Newswire
Date:May 14, 1992
Words:185
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