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DONALDSON COMPANY ANNOUNCES DIVIDEND INCREASE AND THREE-FOR-TWO STOCK SPLIT

 DONALDSON COMPANY ANNOUNCES DIVIDEND INCREASE AND
 THREE-FOR-TWO STOCK SPLIT
 MINNEAPOLIS, May 21 /PRNewswire/ -- The Donaldson Company (NYSE: DCI) announced today that the company's directors have increased the common stock cash dividend by 7 percent and declared a three-for-two stock split, in the form of a stock dividend.
 The directors declared a cash dividend of 15 cents per share payable June 12, 1992, to shareholders of record June 2. The quarterly dividend, on a pre-split basis, was increased from 14 cents per share, an increase of 7 percent. The dividend increase is the fourth since 1988. Over this four-year period, the dividend has increased more than 16 percent per annum.
 The directors also declared a three-for-two stock split. The stock split will be distributed July 10, 1992, to shareholders of record as of June 19. The company's last stock split was a two-for-one stock split in May, 1988.
 As of April 30, 1992, there were approximately 9,100,000 pre-split shares outstanding. The current declaration is the 147th consecutive quarterly cash dividend paid by the company.
 Donaldson Company, Inc. is a worldwide manufacturer of filtration products. The company's product mix includes air and liquid filters and exhaust and emission control products for heavy duty mobile equipment; in-plant air cleaning systems; air intake systems and exhaust products for industrial gas turbines; and specialized filters for such diverse applications as computer disk drives, clean rooms, and personal respirators. Products are produced at nine U.S. plants, nine other plants around the world, and two joint ventures. The company's shares are traded on the New York Stock Exchange under the symbol DCI.
 -0- 5/21/92
 /CONTACT: John R. Schweers of Donaldson Company, 612-887-3014, or John Mackay of Padilla Speer Beardsley, 612-871-8877, or in New York, 212-752-8338/
 (DCI) CO: Donaldson Company ST: Minnesota IN: SU: DIV


KH -- MN007 -- 2703 05/21/92 10:06 EDT
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Publication:PR Newswire
Date:May 21, 1992
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