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FLEET AEROSPACE, INC. NOT TO DECLARE DIVIDEND

 FLEET AEROSPACE, INC. NOT TO DECLARE DIVIDEND
 TORONTO, Oct. 7 /PRNewswire/ -- The board of directors of Fleet


Aerospace, Inc. (NASDAQ: FLAI) has decided not to declare and pay the cash dividend on the company's 10 per cent cumulative reset preferred stock due Sept. 30, 1992.
 The omission of the dividend is deemed necessary by the board in order for the company to conserve cash.
 The company is now in arrears of three semi-annual dividend payments, and as a result, the board of directors is automatically increased by two members who are to be elected by the holders of the company's 10 per cent cumulative reset preferred stock.
 The company expects to call a meeting of the preferred stockholders for the purpose of that election in the near future.
 -0- 10/07/92
 /CONTACT: L. Dale Foster, secretary & treasurer of Fleet Aerospace, Inc., 416-365-0565/
 (FLAI) CO: Fleet Aerospace, Inc. ST: Ontario IN: ARO SU: DIV


AH -- NY054 -- 7580 10/07/92 16:31 EDT
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Publication:PR Newswire
Date:Oct 7, 1992
Words:163
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