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MARTIN MARIETTA BOARD AUTHORIZES STOCK SPLIT, INCREASES DIVIDEND RATE

 BETHESDA, Md., July 22 /PRNewswire/ -- Martin Marietta's board of directors today declared a two-for-one split of the corporation's common stock, along with a 7.1 percent increase in the stock's dividend rate. Both actions will be effective in the third quarter 1993.
 The split will be in the form of a stock dividend and stockholders of record on Sept. 1 will receive one additional share for each share of Martin Marietta Corporation (NYSE: ML) common stock held. The new shares will be issued on Sept. 30.
 Sept. 1 also will be the record date for the third-quarter cash dividend of 45 cents, or $1.80 annually, on pre-split shares. This quarterly dividend, payable on Sept. 30, represents an increase from 42 cents per share on a pre-split basis. On an annualized basis, the new dividend rate on post-split shares would be 90 cents.
 "These actions are a direct result of our confidence in the people who make up the `new Martin Marietta' to produce strong, sustained performance. For our shareholders, 1993 will mark the 39th consecutive year in which our corporation has paid a dividend, and the 22nd consecutive year that our annual dividend payments have increased," said Norman R. Augustine, chairman and chief executive officer of Martin Marietta.
 -0- 7/22/93
 /CONTACT: Chip Manor of Martin Marietta, 301-897-6258/
 (ML)


CO: Martin Marietta ST: Maryland IN: ARO SU: DIV

TW -- DC012 -- 4474 07/22/93 11:05 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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