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MORTON INTERNATIONAL INCREASES QUARTERLY DIVIDEND BY 17 PERCENT

 CHICAGO, June 24 /PRNewswire/ -- The Board of Directors of Morton International today increased the quarterly dividend by 17 percent from 24 to 28 cents per share of common stock, payable on Sept. 13, 1993, to shareholders of record on Aug. 30, 1993. The new annual dividend rate is $1.12 per share.
 Morton's Chairman and Chief Executive Officer Charles S. Locke said, "Morton has not raised its dividend during the past 30 months because of the sizable capital investments it has been making in its airbag business. The financial payback from this commitment will accelerate greatly with delivery of passenger side airbags to car manufacturers for installation in model year 1994 passenger cars. We expect a substantial escalation of profits and cash flow in our fiscal year ending June 30, 1994. We believe this significant improvement in Morton's outlook should be shared with those who own our stock."
 Morton International is a Chicago-based manufacturer and marketer of specialty chemicals, automotive inflatable restraint systems, and salt.
 -0- 6/24/93
 /CONTACT: Nancy A. Hobor of Morton International, 312-807-2424/
 (MII)


CO: Morton International ST: Illinois IN: CHM SU: DIV

LR -- NY043 -- 5312 06/24/93 12:16 EDT
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Publication:PR Newswire
Date:Jun 24, 1993
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