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MK STOCKHOLDERS APPROVE STOCK SPLIT; BOARD DECLARES CASH DIVIDEND OF 40 CENTS ON PRE-SPLIT SHARES

 MK STOCKHOLDERS APPROVE STOCK SPLIT;
 BOARD DECLARES CASH DIVIDEND OF 40 CENTS ON PRE-SPLIT SHARES
 BOSTON, April 24 /PRNewswire/ -- Stockholders of Morrison Knudsen Corp. (MK) (NYSE: MRN), at their annual meeting here today, approved a board of directors' proposal for a two-for-one split of the company's common stock that will increase the total number of authorized common shares to 100 million from 50 million.
 The new stock certificates will be distributed on May 26 to holders of record on May 6 and will give each stockholder one additional share for each share held.
 With the split, the par value of the stock will be reduced to $1.67 per share from $3.33.
 At a meeting earlier in the day, the company's board of directors declared a cash dividend of 40 cents per share on stock outstanding prior to the split. The cash dividend will be paid June 8 to stockholders of record May 6 and will be the second in 1992 disbursed at the 40-cent rate.
 "It is the board's intention, contingent on earnings, to pay future quarterly cash dividends at an initial rate of 20 cents per share on the larger number of shares that will be outstanding after the split," said William J. Agee, MK chairman and chief executive officer.
 Morrison Knudsen Corp. is an international company serving the environmental, industrial process, power and transportation markets with complete development, design/engineering, construction, operating and financial services.
 -0- 4/24/92
 /CONTACT: Jess Hawley of Morrison Knudsen, 208-386-5000/
 (MRN) CO: Morrison Knudsen Corp. ST: Idaho IN: CST SU: DIV


SC -- SE002 -- 2381 04/24/92 11:06 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
Words:270
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