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HEILIG-MEYERS DECLARES SPLIT OF OUTSTANDING COMMON STOCK

 RICHMOND, Va., June 17 /PRNewswire/ -- Heilig-Meyers Company (NYSE: HMY), the Richmond-based home furnishings retailer, today announced that its board of directors has declared a three-for-two split of its outstanding common stock. In addition, the board declared a quarterly cash dividend of 5 cents per share, after adjustment for the stock split, which represents a 7.1 percent increase over the previous quarterly dividend.
 Stockholders of record at the close of business on July 14, 1993, will be entitled to participate in the stock split, which will be affected in the form of a stock dividend. Certificates representing the new shares will be distributed on July 28, 1993. The quarterly cash dividend will be paid on Aug. 21, 1993, to stockholders of record on July 14, 1993. The dividend will be paid based on the post-split shares outstanding.
 At present, Heilig-Meyers has approximately 32 million shares outstanding and following the split will have approximately 48 million shares outstanding. Wachovia Bank serves as registrar and transfer agent for the company.
 William C. DeRusha, chairman and chief executive officer, commented that the financial performance of the company has created a strong market for its stock. He noted that the company recently completed a 2.3 million share common stock offering and has distributed two other three-for-two splits since January 1992. He also stated that this split is indicative of the confidence of management and the board of directors in Heilig-Meyers' potential for continued success.
 Heilig-Meyers Company, a Virginia corporation, presently operates 450 stores in 16 states.
 -0- 6/17/93
 /CONTACT: Roy Goodman of Heilig-Meyers, 804-359-9171/
 (HMY)


CO: Heilig-Meyers Company ST: Virginia IN: REA SU: DIV

IH-DS -- DC007 -- 2942 06/17/93 09:26 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
Words:282
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