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FIRST UNION CORPORATION DECLARES CASH DIVIDENDS ON COMMON AND PREFERRED STOCK

 CHARLOTTE, N.C., April 20 /PRNewswire/ -- The board of directors of First Union Corporation (NYSE: FTU FTUpr) today declared a quarterly cash dividend of 35 cents per share for its common stock (NYSE: FTU).
 The common stock dividend is payable June 15 to holders of record as of May 28. On an annualized basis, the dividend rate is $1.40 per share.
 The board also declared a quarterly cash dividend for its series 1990 cumulative perpetual adjustable rate preferred stock (NYSE: FTUpr). The dividend rate for the series 1990 preferred stock is 7.80 percent per annum, applied against $50.00 ($0.975 per share), and is payable June 30 to holders of record as of June 15.
 At Mar. 31, 1993, First Union Corporation reported assets of $63.2 billion, and operated 1,238 banking offices in Florida, North Carolina, South Carolina, Georgia Virginia, Tennessee, Maryland, and Washington D.C., and 238 nonbanking offices in 36 states and the District of Columbia. Including pending acquisitions expected to be completed in the second quarter of 1993, the corporation is expected to operate approximately 1,300 banking offices and have assets of approximately $71 billion, which would make it the nation's eighth largest bank holding company.
 -0- 4/20/93
 /CONTACT: (Media) Jeep Bryant, 704-374-2957, or (Investor) Sean Fox, 704-374-4353, both of First Union Corporation/
 (FTU)


CO: First Union Corporation ST: North Carolina IN: FIN SU: DIV

CM -- CH010 -- 8255 04/20/93 16:01 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
Words:245
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