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INTER-REGIONAL FINANCIAL GROUP DECLARES DIVIDEND; PLANS TO REGISTER SHARES HELD BY COMMERCIAL CREDIT

 INTER-REGIONAL FINANCIAL GROUP DECLARES DIVIDEND;
 PLANS TO REGISTER SHARES HELD BY COMMERCIAL CREDIT
 MINNEAPOLIS, Jan. 22 /PRNewswire/ -- Inter-Regional Financial Group (NYSE: IFG), parent company of regional broker-dealers Dain Bosworth Incorporated, Minneapolis, and Rauscher Pierce Refsnes, Inc., Dallas, today announced that its Board of Directors has declared a special cash dividend of 16 cents per share of common stock, the company's first cash dividend on common stock since second-quarter 1983. Irving Weiser, IFG's president and chief executive officer, said, "The company's performance in 1991 has allowed us to satisfy the provisions of our subordinated debt agreement that have restricted us from paying dividends since 1983."
 The dividend will be payable February 18 to holders of record at the close of business on Feb. 3. There are 8,196,789 shares of IFG common stock outstanding. The company also said it intends to begin paying regular quarterly common stock dividends of 4 cents per share after first-quarter 1992. Payment of future dividends will depend on the earnings and financial condition of the company.
 In other action, the board authorized the filing of a registration statement with the Securities and Exchange Commission for a proposed secondary offering of 1.3 million shares of IFG common stock currently held by Commercial Credit, a subsidiary of Primerica Corporation, a New York-based diversified financial services company. This represents approximately 16 percent of the outstanding common stock of IFG. Following the offering, Commercial Credit will retain up to 435,229 shares, or approximately 5 percent of IFG shares. No proceeds of the offering will goto IFG.
 Commercial Credit purchased its shares of IFG common stock pursuant to a 1984 agreement at a time when Commercial Credit was a subsidiary of Control Data Corporation of Minneapolis. Upon completion of the offering, all rights under the 1984 agreement will terminate except for registration rights with respect to the shares retained by Commercial Credit. The offering also includes an underwriters' over-allotment option for an additional 195,000
shares. The offering of the shares will be made only by means of a prospectus.
 Inter-Regional Financial Group, Inc. provides full-service securities and investment banking services in 22 states through its subsidiaries, Dain Bosworth Incorporated, Minneapolis, and Rauscher Pierce Refsnes, Inc., Dallas. The parent company's common stock is traded on the New York Stock Exchange under the symbol IFG.
 -0- 1/22/92
 /CONTACT: B.J. French of Inter-Regional Financial Group, 612-371-2363; or Avery Hunt of Primerica, 212-891-8871/
 (IFG) CO: Inter-Regional Financial Group ST: Minnesota IN: FIN SU: DIV


DS -- MN021 -- 2466 01/22/92 16:26 EST
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Publication:PR Newswire
Date:Jan 22, 1992
Words:425
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