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ITT CORPORATION INCREASES DIVIDEND

 NEW YORK, Feb. 9 /PRNewswire/ -- The board of directors of ITT Corporation (NYSE: ITT) today announced an increase of 14 cents in the annual dividend rate on the company's common stock to $1.98 from $1.84. The board voted to increase the quarterly dividend by 3.5 cents -- from 46 cents to 49.5 cents per share -- payable on April 1, 1993, to shareholders of record at the close of business on Feb. 19, 1993. Last year, the board approved an annual increase of 12 cents.
 Rand V. Araskog, ITT chairman, president, and chief executive, said, "This increase in our dividend is an indication of the confidence of our board of directors in the present and future performance of ITT. In 1992 we took a number of major actions to eliminate problems affecting our financial performance in some of our businesses. After analysis by owners and the financial community, these actions have been understood and generally well received. The new dividend is also continuing evidence of our commitment to increasing value for our shareholders."
 -0- 2/9/93
 /CONTACT: Jim Gallagher of ITT, 212-258-1261/
 (ITT)


CO: ITT Corporation ST: New York IN: SU: DIV

GK-LR -- NY078 -- 4762 02/09/93 14:54 EST
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Publication:PR Newswire
Date:Feb 9, 1993
Words:204
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