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INTERMAGNETICS GENERAL DECLARES 3 PERCENT STOCK DIVIDEND

 INTERMAGNETICS GENERAL DECLARES 3 PERCENT STOCK DIVIDEND
 GUILDERLAND, N.Y., June 4 /PRNewswire/ -- Intermagnetics General Corporation (NASDAQ: INMA) announced today that its board of directors declared a 3 percent stock dividend, payable on Sept. 2, 1992, to shareholders of record on Aug. 3, 1992. Each shareholder will receive three shares of IGC common stock for every 100 shares owned on the record date. Provisions will be made for payment in cash for fractional shares, if any.
 Among other actions taken by the board of directors was the extension of an employment agreement with Carl H. Rosner as IGC's president and chief executive officer for an additional three years.
 Also approved was an amendment to IGC's savings plan, to provide an opportunity for IGC's employees to select investing a portion of their savings in shares of IGC stock as part of the company's 401K Plan. As needed, the necessary shares will be provided either from unissued or treasury shares, or be purchased on the open market.
 Intermagnetics General, as a leading manufacturer of superconducting magnets, wire and associated ultra-low temperature refrigeration equipment, the combination of which is especially useful in medical diagnostic imaging (MRI) systems, is dedicated to the development and commercialization of applied superconducting systems. The company also produces permanent magnet systems and materials separation equipment.
 -0- 6/4/92
 /CONTACT: Carl H. Rosner, president of IGC, 518-456-5456/
 (INMA) CO: Intermagnetics General Corporation ST: New York IN: SU: DIV


GK-KD -- NY035 -- 6974 06/04/92 10:38 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
Words:248
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