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LAC MINERALS ISSUES DIVIDEND ANNOUNCEMENT

 LAC MINERALS ISSUES DIVIDEND ANNOUNCEMENT
 TORONTO, March 10 /PRNewswire/ -- The board of directors of LAC


Minerals Ltd. (NYSE: LAC) today declared its first interim dividend at a rate of Cdn.$0.05 per share on the outstanding common shares of the company. The dividend will be payable on April 24, 1992 to shareholders of record at the close of business on April 15, 1992.
 LAC believes that the level of its recent dividend payments has been above the average of comparable companies and that its shareholders would be better served by LAC reinvesting a higher percentage of its earnings. Accordingly, a dividend reduction at this time is consistent with the cyclicality reflected in LAC's recent earnings.
 In order to maintain the eligibility for investment of its common shares under "legal for life" statutes in light of the reduction of its dividends, the shareholders of LAC will be asked to approve a reclassification of the stated capital of LAC at the annual general and special meeting of shareholders to be held on April 21, 1992.
 -0- 3/10/92
 /CONTACT: Gordon Maw, senior vice president and CFO of LAC Minerals, 416-777-2400/
 (LAC) CO: LAC Minerals Ltd. ST: Ontario IN: MNG SU: DIV


TS -- NY052 -- 6903 03/10/92 12:43 EST
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Publication:PR Newswire
Date:Mar 10, 1992
Words:210
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