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CRESTAR FINANCIAL CORPORATION INCREASES DIVIDEND, ANNOUNCES STOCK PURCHASE PROGRAM

 RICHMOND, Va., April 23 /PRNewswire/ -- The Board of Directors of Crestar Financial Corporation (NASDAQ-NMS: CRFC) declared a 12 percent increase in the dividend on Crestar's Common Stock. The new quarterly dividend is now $.28 per share, or $1.12 on an annual basis, and is payable May 21, 1993, to shareholders of record on May 3, 1993.
 In addition, Crestar announced that it will purchase on the open market up to 500,000 shares of its Common Stock over the next 12 months to meet the requirements of the corporation's dividend reinvestment and employee stock plans.
 Crestar Financial Corporation is the holding company for three banks with 288 banking offices in Virginia, Maryland, and the District of Columbia. Other subsidiaries provide insurance, full-service brokerage, mortgage banking and investment advisory services. At March 31, 1993, Crestar had total assets of $12.2 billion and total deposits of $9.2 billion.
 -0- 4/23/93
 /CONTACT: Eugene S. Putnam, Jr., Investor Relations, 804-782-5619, or Cheryl Jenkins, Corporate Communications, 804-782-5377, of Crestar Financial Corporation/
 (CRFC)


CO: Crestar Financial Corporation ST: Virginia IN: FIN SU: DIV

TW -- DC007 -- 9921 04/23/93 09:36 EDT
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Publication:PR Newswire
Date:Apr 23, 1993
Words:191
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