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METROPOLITAN FINANCIAL DECLARES 2-FOR-1 STOCK SPLIT INCREASES CASH DIVIDEND

 METROPOLITAN FINANCIAL DECLARES 2-FOR-1 STOCK SPLIT
 INCREASES CASH DIVIDEND
 MINNEAPOLIS, May 6 /PRNewswire/ -- Metropolitan Financial Corporation (NYSE: MFC) announced today that its board of directors has approved a two-for-one stock split, effective in the form of a 100 percent stock dividend. The split will be distributed on June 22, 1992 to shareholders of record on June 10, 1992.
 Norman M. Jones, chairman of the board, stated, "In addition, the board anticipates increasing the cash dividend approximately 22 percent. On an adjusted basis, this would represent a change from $0.23 to $0.28 per share annually." The next regularly scheduled cash dividend payment date is July 31, 1992.
 The stock split will increase the number of outstanding shares from approximately 12.5 million to nearly 25 million shares.
 The new certificates will be issued by American Stock Transfer and Trust Company, New York, the company's transfer agent and registrar.
 Metropolitan Financial Corporation is a regional financial services holding company. Its full service consumer savings bank, Metropolitan Federal Bank, fsb, Fargo, N.D., operates over 140 offices in 114 communities in the states of North Dakota, Minnesota, Iowa, South Dakota, Wisconsin and Arizona. At March 31, 1992, the company reported consolidated assets of $5.02 billion and deposits of $3.97 billion.
 Metropolitan is one of the Twin Cities' largest originators of residential mortgage loans. The corporation's real estate sales and brokerage subsidiary, Edina Realty, Inc., has been rated number 1 nationally in customer satisfaction by a leading consumer magazine and serves Minnesota and western Wisconsin with over 1600 sales associates in 36 locations.
 Metropolitan Financial Corporation's common stock trades on the New York Stock Exchange, under the symbol MFC. The Series B preferred stock and warrant trade on the NASDAQ System under the symbols MFCNP and MFCNW, respectively. As a result of the split, each warrant will now entitle its holder to purchase 1.2 shares of common stock at a price of $5.21 per share.
 -0- 5/6/92
 /CONTACT: William Bartkowski of Metropolitan Financial, 612-928-5003/
 (MFC) CO: Metropolitan Financial Corporation ST: Minnesota IN: FIN SU:


AL -- MN002 -- 7133 05/06/92 12:59 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:357
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