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LAUREL SAVINGS ASSOCIATION DECLARES QUARTERLY DIVIDEND

 LAUREL SAVINGS ASSOCIATION DECLARES QUARTERLY DIVIDEND
 ALLISON PARK, Pa., Oct. 9 /PRNewswire/ -- The board of directors of


Laurel Savings Association (NASDAQ: LARL) yesterday declared a regular dividend of $0.08 per share on the Association's common stock.
 The dividend is payable Nov. 30, 1992, to stockholders of record Oct. 30, 1992. This is the 21st consecutive cash dividend paid by the Association since converting to a publicly held institution in 1987.
 In commenting on the dividend, Edwin R. Maus, president and chief executive officer stated, "The declaration of Laurel Savings' regular quarterly dividend actually represents a 25 percent increase in the cash payout per share on a pre-split basis compared with the dividend declared in October of 1991. Having completed a previously announced 5-for-4 stock split effective Aug. 14, 1992, the Association is maintaining its dividend level on the newly issued shares," Maus continued. "The board's decision to retain the current payout level is a reflection of the Association's strong financial position and excellent operating performance."
 Laurel Savings Association is a 105-year-old, Pennsylvania- chartered, SAIF-insured savings association with six offices in Allegheny and Butler counties.
 -0- 10/9/92
 /CONTACT: Edwin R. Maus, president of Laurel Savings Association, 412-487-7400/ CO: Laurel Savings Association ST: Pennsylvania IN: FIN SU: DIV


MJ -- PG011 -- 8514 10/09/92 16:38 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
Words:218
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