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FEDERAL SIGNAL 3-FOR-2 STOCK SPLIT AND CASH DIVIDEND

 FEDERAL SIGNAL 3-FOR-2 STOCK SPLIT AND CASH DIVIDEND
 OAK BROOK, Ill., March 19 /PRNewswire/ -- Federal Signal


Corporation's (NYSE: FSS) shareholders approved an increase in the company's authorized common stock, thereby making the 3-for-2 stock split previously declared by the Board of Directors effective since the split was contingent upon such shareholder approval. The board of directors also declared a regular quarterly cash dividend of 10-1/2 per post-split share on its common stock, payable June 2, 1992 to holders of record May 7, 1992. This represents the 177th consecutive quarterly cash dividend paid to the company's common shareholders.
 At the March 19, 1992 annual meeting the company's share-holders approved an amendment of the company's certificate of incorporation to increase the amount of authorized common stock from 30,000,000 shares to 90,000,000 shares, thereby making effective a 3-for-2 stock split previously declared by the board of directors. The 3-for-2 stock split will be made in the form of a 50 percent stock distribution by issuing one additional share for every two shares of common stock issued and outstanding at the close of business on March 27, 1992, the record date. A cash payment will be made equal to any fractional share interests. Brokers, nominees and custodians will have from March 27, 1992 through April 3, 1992 to notify the disbursement agent, Harris Trust and Savings Bank of Chicago, of their requirements for full and fractional shares for each of their customers. The additional shares will be distributed to shareholders on April 10, 1992.
 This is the third year in a row that Federal Signal has had a 3-for-2 stock split. Joseph J. Ross, chairman, president and chief executive officer, told shareholders that "These stock splits have been principally due to the company's profitable growth and related significant stock price appreciation over the years. These actions have been prompted largely by our confidence in the company's ability to continue that earnings growth in 1992 and the future."
 The shareholders also re-elected Thomas N. McGowen, Jr. and Walter R. Peirson as directors for terms expiring at the 1995 Annual Meeting of Shareholders.
 Federal Signal Corporation is a manufacturer and worldwide supplier of public safety, signaling and communications equipment (Signal Products), fire trucks, rescues and ambulances (Emergency One, Superior and Frontline) and street sweeping vehicles (Elgin Sweeper and Ravo International), parking control equipment (Federal APD), custom on- premise signage (Federal Sign), carbide cutting tools (Manchester Tool and Bassett Rotary Tool), and precision punches and related die components (Dayton Progress, Jamestown Perforators and Container Tooling).
 -0- 3/19/92
 /CONTACT: Charles R. Campbell, 708-954-2020, for Federal Signal/
 (FSS) CO: Federal Signal Corporation ST: Illinois IN: SU: DIV


SH -- NY072 -- 9766 03/19/92 14:45 EST
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Publication:PR Newswire
Date:Mar 19, 1992
Words:454
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