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PEP BOYS ADDS DIRECTOR, INCREASES DIVIDEND

 PEP BOYS ADDS DIRECTOR, INCREASES DIVIDEND
 PHILADELPHIA, March 31 /PRNewswire/ -- Pep Boys -- Manny, Moe & Jack


(NYSE: PBY) today announced that Thomas G. Stemberg was elected to its board of directors.
 Stemberg is chairman of the board and chief executive officer of Staples, Inc. (NASDAQ: SPLS).
 The board of directors approved a 7.7 percent increase in the cash dividend. The increased dividend of $.14 annually, or $.035 quarterly, will be paid on July 27, 1992, to holders of record on July 13. This is the 16th consecutive year in which the cash dividend has been increased and 42nd consecutive year that a cash dividend has been paid.
 The board of directors also declared the regular quarterly cash dividend of $.0325 which will be paid on April 27, 1992, to holders of record on April 13.
 /delval/
 -0- 3/31/92
 /CONTACT: Michael J. Holden, senior vp-finance and treasurer of Pep Boys, 215-227-9202/
 (PBY) CO: Pep Boys -- Manny, Moe & Jack ST: Pennsylvania IN: REA SU: DIV PER


LJ-MK -- PH032 -- 3576 03/31/92 16:30 EST
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Publication:PR Newswire
Date:Mar 31, 1992
Words:175
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