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METHODE DIRECTORS DECLARE ONE FOR ONE STOCK DIVIDEND AND INCREASE REGULAR CASH DIVIDEND

 CHICAGO, Dec. 16 /PRNewswire/ -- The board of directors of Methode Electronics, Inc. voted a 100 percent dividend whereby Methode will issue one share of Class A common stock for each share of Class A and Class B common stock previously issued. The stock dividend will be payable Jan. 15, 1993, to holders of record Dec. 28, 1992.
 The board of directors also announced that it is raising its historical cash payout by 33 percent. The regular quarterly cash dividend rate, adjusted for the stock dividend, was increased to $.012 and $.010 for Class A and Class B common stock, respectively (or, annual rate of $.048 and $. 040, respectively). Historically, Methode has paid quarterly cash dividends, adjusted for the stock dividend, at an annual rate of $.036 and $.030 for Class A and Class B common stock, respectively. The board of directors declared the cash dividend payable Jan. 29, 1993, to holders of record Jan. 18, 1993. The board of directors has indicated its intention, subject to general economic conditions, to continue to pay this higher cash dividend rate.
 President William J. McGinley said, "The stock dividend will create about 11,400,000 shares of additional Class A common stock outstanding, bringing the total outstanding to 21,500,000 shares. There continues to be 1,290,000 shares of Class B common stock outstanding. We believe that the availability of additional shares will allow greater market interest in Methode common stock."
 -0- 12/16/92
 /CONTACT: Kevin Hayes, vice president & treasurer of Methode Electronics, Inc., 708-867-9600; or Eugene Lyman of E.W. Lyman Associates, 312-868-9800, for Methode Electronics, Inc./
 (METH)


CO: Methode Electronics, Inc. ST: Illinois IN: CPR SU: DIV

SM -- NY092 -- 7929 12/16/92 17:38 EST
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Publication:PR Newswire
Date:Dec 16, 1992
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