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CONSOLIDATED-TOMOKA LAND CO. DECLARES DIVIDEND

 DAYTONA BEACH, Fla., Jan. 27 /PRNewswire/ -- At its regular board of directors meeting on Jan. 27, Consolidated-Tomoka Land Co. (AMEX: CTO) declared a dividend of $.15 per share payable on Feb. 23, to holders of record on Feb. 8.
 This dividend represents a 30 percent increase over the $.115 dividend paid at the comparable time last year. The company stated its intention to continue paying two dividends during the year. One dividend is scheduled for payment in February, with a second dividend scheduled for payment in August. The company has adopted a payout policy of between 35 percent and 40 percent of earnings.
 -0- 1/27/93
 /CONTACT: Bruce W. Teeters of Consolidated-Tomoka Land Co., 904-255-7558/
 (CTO)


CO: Consolidated-Tomoka Land Co. ST: Florida IN: SU: DIV

BR-BN -- AT009 -- 9716 01/27/93 13:31 EST
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Publication:PR Newswire
Date:Jan 27, 1993
Words:135
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