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SECURITY FINANCIAL HOLDING COMPANY INCREASES DIVIDEND AND DECLARES 50 PERCENT STOCK DIVIDEND

 SECURITY FINANCIAL HOLDING COMPANY INCREASES DIVIDEND
 AND DECLARES 50 PERCENT STOCK DIVIDEND
 DURHAM, N.C., Jan. 27 /PRNewswire/ -- Security Financial Holding Company (NASDAQ-NMS: SECF), the parent of Security Federal Savings Bank, Durham, N.C., announced today that its Board of Directors has declared a 50 percent stock dividend on the Company's outstanding common stock. The stock dividend is payable on Feb. 14, 1992 to stockholders of record as of Feb. 3, 1992. Stockholders entitled to receive fractional shares as a result of the stock dividend will instead receive cash.
 Commenting on the stock dividend, Larry D. Brock, President and Chief Executive Officer of the Company, stated that, "The stock dividend was declared in part due to the strong performance in the price of our stock. It is our hope that the additional shares will provide a better market for investors wishing to purchase or sell shares in Security Financial."
 In addition, the Board of Directors declared a $.15 cash dividend on each share of common stock outstanding on Feb. 3, 1992. The cash dividend will be paid on the number of shares held immediately prior to the issuance of the stock dividend. This level represents an increase from the $1.45 dividend paid in the most recent quarter.
 According to Robert F. Stockwell, Chief Financial Officer of the Company, "The increase in the cash dividend marks the fifth such increase in the past eighteen months and represents 15 percent growth from the year-ago period. These successive increases in the dividend have been made possible by the continuing strong earnings of the Company."
 Security Federal Savings Bank, the wholly-owned subsidiary of Security Financial Holding Company, is the largest savings bank in Durham, N.C. With $325 million in assets, it provides a full range of financial services through nine locations in the Durham, Butner/Creedmoor and Chapel Hill areas.
 -0- 1/27/92
 /CONTACT: Larry D. Brock, President & Chief Executive Officer, or Robert F. Stockwell, Chief Financial Officer, Security Financial Holding Company, 919-687-7200/
 (SECF) CO: Security Financial Holding Company; Security Federal Savings Bank ST: North Carolina IN: FIN SU: DIV


CM -- CH001 -- 3560 01/27/92 09:09 EST
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Publication:PR Newswire
Date:Jan 27, 1992
Words:358
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