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MIDWEST GRAIN ANNOUNCES STOCK SPLIT, DIVIDEND INCREASE

MIDWEST GRAIN ANNOUNCES STOCK SPLIT, DIVIDEND INCREASE
 ATCHISON, Kan., June 11 /PRNewswire/ -- The board of directors of Midwest Grain Products, Inc. (NASDAQ-NMS: MWGP), today approved a three-for-two split of the companies 6,510,182 shares of common stock effective at the close of business June 30.
 Certificates for the new shares are expected to be mailed to stockholders on July 15. Stockholders who own fractional shares will receive a cash payment for those share in an amount based on the June 30 closing price of the stock.
 Cloud L. "Bud" Cray, chairman of the board, said the split was authorized to increase the availability and affordability of the company's stock for a broader base of investors.
 The stock split is the first the company has had since going public in October 1988, when shares were issued at $14 each. Since late December 1991, the daily closing price of the stock has consistently stayed above $30 per share, reaching a high of $36 per share on March 20.
 In conjunction with the stock split, the board declared a dividend of 12.5 cents per share, which is payable Aug. 7 to stockholders of record July 23. On an annual basis, the new dividend is equivalent to 50 cents per share and represents a 7.1 percent increase over the previous yearly rate.
 -0- 06/11/92
 CONTACT: Steve Pickman of Midwest Grain Products, 913-367-1480
 (MWGP) CO: MIDWEST GRAIN PRODUCTS, INC. IN: FOD SU: DIV ST: KS -- DC015 -- X626 06/11/92
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 11, 1992
Words:250
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