GRAND CASINOS, INC. DECLARED 10 PERCENT STOCK DIVIDEND
GRAND CASINOS, INC. DECLARED 10 PERCENT STOCK DIVIDEND MINNEAPOLIS, Oct. 26 /PRNewswire/ -- Grand Casinos, Inc.
(NASDAQ-NMS: GRND), which manages two Las Vegas-style casinos on behalf of the Mille Lacs Band of Ojibwe Indians in northern Minnesota, today declared a 10 percent stock dividend.
Lyle Berman, chairman and chief executive officer of Grand Casinos, said the board's action expressed the company's confidence in its long- term growth potential and gratitude to its shareholders. "This stock dividend symbolizes our confidence in the company's ability to continue to grow and operate profitably in one of the fastest growing and most exciting industries," Berman said. The dividend will increase the number of shares outstanding by 1,335,000 to 14,670,000. The declared stock dividend will be payable Nov. 30, 1992, to shareholders of record as of Nov. 9, 1992. Grand Casinos, Inc. develops and manages casino gaming facilities for Indian Tribes on Indian land and is currently developing its own gaming facilities which are not located on Indian land. The company's common stock is traded on the NASDAQ National Market System under the symbol GRND. -0- 10/26/92 /NOTE: For more information on Grand Casinos, Inc. via facsimile at no cost, simply dial 1-800-PRO-INFO and enter company code number 079/ /CONTACT: Tom Brosig, chief operating officer, or James White, chief financial officer, 612-449-9092, both Grand Casinos; or Michael Rosenbaum or Audrey Lowe, 312-266-7800, both of FRB/Chicago/ (GRND) CO: Grand Casinos, Inc. ST: Minnesota IN: CNO SU: DIV
AL -- MN013 -- 4900 10/26/92 14:23 EST
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|Date:||Oct 26, 1992|
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