CORESTATES FINANCIAL CORP INCREASES QUARTERLY DIVIDEND
CORESTATES FINANCIAL CORP INCREASES QUARTERLY DIVIDEND PHILADELPHIA, Nov. 19 /PRNewswire/ -- The board of directors of
CoreStates Financial Corp (NASDAQ: CSFN) today approved a 4.2 percent increase in the quarterly common stock dividend, declaring a dividend of 50 cents per share payable on Jan. 1, 1992, to shareholders of record Dec. 4, 1991.
The most recent increase in the dividend, from 42 cents to 48 cents, was approved in November 1989. The new 50-cent dividend equates to an annual dividend rate of $2 per share. Terrence A. Larsen, chairman, said the increase "reflects our desire that shareholders participate in the progress we are making. This increase is made possible by an improving outlook and by the substantial strengthening of our balance sheet we have achieved during this recession year." CoreStates has approximately 55 million shares outstanding. The company has paid dividends continuously since 1844. /delval/ -0- 11/19/91 /CONTACT: Gary Brooten or Gregg Feistman of CoreStates Financial, 215-973-3546/ (CSFN) CO: CoreStates Financial Corp ST: Pennsylvania IN: FIN SU: DIV LJ -- PH017 -- 4934 11/19/91 11:57 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 19, 1991|
|Previous Article:||BANDAG DECLARES DIVIDEND|
|Next Article:||ED ECKSTINE APPOINTED PRESIDENT OF MERCURY RECORDS|