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FIRST BANK SYSTEM INCREASES QUARTERLY DIVIDEND 11 PERCENT

 MINNEAPOLIS, Feb. 17 /PRNewswire/ -- Directors of First Bank System, Inc. (NYSE: FBS) today declared an increase of 2.5 cents, or 11 percent, in the regular quarterly dividend to 25 cents per share of common stock. The dividend is payable March 15, 1993 to shareholders of record at the close of business March 3, 1993. The last change in the dividend was a 2 cent increase in May 1992.
 At the increased dividend rate, the annual dividend is equivalent to $1.00 per share. There were approximately 93.1 million shares of common stock outstanding as of Jan. 31, 1993.
 The directors also declared dividends on four series of the company's preferred stock. The dividends for each series are payable March 31 to shareholders of record at the close of business March 9 as follows:
 Preferred Stock Series Dividend Per Share Current Stated Value
 Yield (pct.)
 1983A Adjustable Rate $1.625 6.5
 1989A Fixed Rate $0.65625 10.5
 1989B Adjustable Rate $0.99375 7.95
 1991A Convertible $0.890625 7.125
 The company also eliminated the 3 percent discount on its dividend reinvestment program. The dividend reinvestment program continues with other features including no brokerage or custodial fees and a $5,000 per quarter cash investment option.
 -0- 2/17/93
 /CONTACT: Wendy Raway, media relations, 612-973-2429, or John Danielson, investor relations, 612-973-2261, both for First Bank System/
 (FBS)


CO: First Bank System, Inc. ST: Minnesota IN: FIN SU: DIV

KH -- MN010 -- 7407 02/17/93 14:18 EST
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Publication:PR Newswire
Date:Feb 17, 1993
Words:251
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