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SCOTT & STRINGFELLOW FINANCIAL, INC., TO PAY EXTRA DIVIDEND TO SHAREHOLDERS

 RICHMOND, Va., June 16 /PRNewswire/ -- Scott & Stringfellow Financial, Inc. (NASDAQ-NMS: SCOT), announced today that its board of directors has declared its fourth quarterly dividend for fiscal 1993 of 9 cents per common share. In addition, the board declared an extra cash dividend of 35 cents per common share. Both dividends will be paid on July 15, 1993, to shareholders of record on July 1, 1993. The company had 1,764,770 common shares outstanding as of June 15, 1993.
 William P. Schubmehl, president and chief executive officer, offered the following comments on the dividend announcements: "The extra dividend of 35 cents per share when combined with the quarterly dividends amounts to a total of 70 cents in dividends paid to shareholders for fiscal 1993. Based on the last trade price for our stock of $14.50, the total 1993 dividends represent a yield to our shareholders of 4.8 percent. We are pleased that our strong earnings in recent periods and our excellent capital position enable the firm to continue to pay an extra dividend to its shareholders."
 The company's primary subsidiary, Scott & Stringfellow, Inc., is a regional brokerage, financial services and investment banking firm headquartered in Richmond. The firm, which recently celebrated its 100th anniversary, was founded in 1893 and is the oldest continuous member of the New York Stock Exchange. The common stock of the holding company, Scott & Stringfellow Financial, Inc., has been traded on the Over-the-Counter market since an initial public offering in November 1986. The firm has 26 branch offices located throughout Virginia, North Carolina and West Virginia and 415 employees including 181 full-time investment brokers.
 -0- 6/16/93
 /CONTACT: William P. Schubmehl, president and chief executive officer, 804-780-3252, or Steven C. DeLaney, first vice president and chief financial officer, 804-782-8757, both of Scott & Stringfellow/
 (SCOT)


CO: Scott & Stringfellow Financial, Inc. ST: Virginia IN: FIN SU: DIV

DC-IH -- DC027 -- 2769 06/16/93 16:47 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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