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KAISER ALUMINUM OMITS COMMON STOCK DIVIDEND

 HOUSTON, March 26 /PRNewswire/ -- Kaiser Aluminum Corp. (NYSE: KLU) announced today that its board of directors has not declared and is not expected to declare a first quarter 1993 dividend on its common stock. Kaiser had paid a $0.05-per-share common stock dividend each quarter since its initial public offering of the stock in July of 1991.
 Kaiser's chairman and chief executive officer, A. Stephens Hutchcraft Jr., attributed the dividend omission to weak worldwide aluminum prices and said that "the omission reflects the company's efforts to better balance the sources and uses of cash during the difficult market conditions currently prevailing in the aluminum industry." Hutchcraft said that he does not expect the company's board to declare dividends in subsequent periods until aluminum markets strengthen.
 Kaiser Aluminum has approximately 57.3 million shares outstanding, of which approximately 50 million are owned by its parent company, MAXXAM Inc. (AMEX: MXM).
 Kaiser Aluminum Corp. is one of the world's leading producers and marketers of alumina, primary aluminum, and fabricated aluminum products.
 -0- 3/26/93
 /CONTACT: Scott Lamb of Kaiser Aluminum, 713-267-3826/
 (KLU MXM)


CO: Kaiser Aluminum Corp.; MAXXAM Inc. ST: Texas IN: MNG SU: DIV

TM -- SF002 -- 9938 03/26/93 08:27 EST
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Publication:PR Newswire
Date:Mar 26, 1993
Words:203
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