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KINNARD INVESTMENTS, INC. ANNOUNCES CASH AND QUARTERLY DIVIDEND

 MINNEAPOLIS, May 24 /PRNewswire/ -- Kinnard Investments, Inc. (NASDAQ-NMS: KINN), has announced that a special cash dividend of seven and one-half cents per share will be paid to its shareholders, and that it has approved the adoption of a regular quarterly dividend policy and dividend reinvestment plan.
 Both the special dividend, and the quarterly dividend, to be paid at two and one-half cents, will be paid in July of this year. Record date is Thursday, July 1, and distribution will follow on Thursday, July 15. It is anticipated that the firm will establish a dividend reinvestment program prior to the payment of these dividends in order to provide shareholders a choice of receiving cash or the opportunity to reinvest.
 The dividends reflect the continued growth of Kinnard Investments, Inc., parent of John G. Kinnard & Company of Minneapolis, and PrimeVest Financial Services, Inc. of St. Cloud, Minn.
 "There has always been a long-standing policy of declaring a special dividend in years of prosperity," said Robert R. Martin, Kinnard's chairman. "Our company has been enjoying great success, and this is one way to thank our loyal shareholders for their support."
 Kinnard Investments, Inc. is publicly traded under the symbol KINN on the NASDAQ National Market System. Its two subsidiaries, John G. Kinnard & Company and PrimeVest Financial Services, Inc., are members of the Midwest Stock Exchange and the Securities Investor Protection Corporation.
 -0- 5/24/93
 /CONTACT: Robert R. Martin, chairman of Kinnard Investments, 612-370-2882/
 (KINN)


CO: Kinnard Investments, Inc. ST: Minnesota IN: FIN SU: DIV

AL -- MN006 -- 1639 05/24/93 11:08 EDT
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Publication:PR Newswire
Date:May 24, 1993
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