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DIRECTORS OF MORRISON RESTAURANTS INC. DECLARE STOCK SPLIT AND DIVIDEND

 MOBILE, Ala., Sept. 30 /PRNewswire/ -- The board of directors of Morrison Restaurants Inc. (NASDAQ-NMS: MORR) held its regular quarterly meeting in Mobile on Sept. 30.
 The directors declared a three-for-two stock split, payable Oct. 29 to shareholders of record at the close of business on Oct. 8. Fractional interests as a result of the stock split will be paid in cash on Oct. 29.
 The board also declared a regular cash dividend of 8-1/3 cents per share, payable at the close of business on Oct. 29, to shareholders of record on Oct. 8. The quarterly dividend commencing with the Oct. 29 payment will be 8-1/3 cents per share or 33-1/3 cents per share annually. This dividend on the post-split shares represents a 4.2 percent increase in the cash dividend payment.
 In other action, the directors approved the listing of Morrison common stock on the New York Stock Exchange, pending acceptance of applications filed with the NYSE and the Securities and Exchange Commission. The stock will be traded under the symbol "RI." The stock has previously been traded through NASDAQ. If approved, the New York Stock Exchange trading of Morrison shares will begin Oct. 21.
 Morrison Restaurants Inc. reported first quarter net income of $8,109,000, an increase of 19 percent from the same period of last fiscal year. Revenue for the first quarter increased 14 percent to $282,158,000. Earnings per share for the first quarter were $0.33 vs. $0.28 for the same fiscal period a year ago, an increase of 18 percent.
 The annual meeting of stockholders was held in Mobile on Sept. 29. Dr. Benjamin F. Payton, president of Tuskegee University, was elected to the board of directors. Eugene E. Bishop and Arthur R. Outlaw were re- elected to the board.
 -0- 9/30/93
 /CONTACT: Wyatt Engwall, vice president, Financial Planning of Morrison Restaurants, 205-344-3000/
 (MORR)


CO: Morrison Restaurants Inc. ST: Alabama IN: LEI SU: DIV

RA-BN -- AT005 -- 7234 09/30/93 11:26 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
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