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FAMILY DOLLAR STORES ANNOUNCES 2 FOR 1 STOCK SPLIT; INCREASES QUARTERLY CASH DIVIDEND BY 18 PERCENT

 FAMILY DOLLAR STORES ANNOUNCES 2 FOR 1 STOCK SPLIT;
 INCREASES QUARTERLY CASH DIVIDEND BY 18 PERCENT
 MATTHEWS, N.C., Jan. 16 /PRNewswire/ -- At its Annual Meeting of Stockholders, Family Dollar Stores, Inc. (NYSE: FDO) announced that the Board of Directors today declared a 2 for 1 stock split on the Company's Common Stock outstanding as of February 10, 1992. Each shareholder of record at the close of business on February 10, 1992, will receive one additional share of Common Stock for each share of Common Stock held on that date. The new shares will be distributed on or about February 26, 1992. As a result of the 2 for 1 split, the number of shares of Common Stock outstanding will increase from approximately 27.9 million shares to 55.8 million shares.
 In addition, the Board of Directors declared a quarterly dividend of 6-1/2 cents per share on the increased number of shares outstanding after giving effect to the 2 for 1 stock split. This cash dividend, payable April 15, 1992, to shareholders of record at the close of business on March 16, 1992, represents an increase in the declared quarterly dividend rate of approximately 18 percent per share.
 In announcing these actions, Leon Levine, Chairman of the Company, stated that: "The 2 for 1 stock split will broaden our shareholder base and provide greater marketability for shareholders. The cash dividend increase represents the sixteenth consecutive year that the dividend has been increased. Both the stock split and the increase in the cash dividend reflect our continued confidence in the growth prospects of our Company."
 Family Dollar Stores, Inc. operates a chain of 1,778 discount stores in 29 states ranging as far north as Wisconsin, east to Massachusetts, south to Florida and west to Texas.
 -0- 1/16/92
 /CONTACT: George R. Mahoney, Jr., Family Dollar Stores, Inc., 704-847-6961/
 (FDO) CO: Family Dollar Stores, Inc. ST: North Carolina IN: REA SU: DIV


DF -- CH011 -- 0563 01/16/92 13:32 EST
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Publication:PR Newswire
Date:Jan 16, 1992
Words:333
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