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SIGNET ANNOUNCES 50 PERCENT INCREASE IN QUARTERLY DIVIDEND

 SIGNET ANNOUNCES 50 PERCENT INCREASE IN QUARTERLY DIVIDEND
 RICHMOND, Va., Oct. 23 /PRNewswire/ -- The board of directors of Signet Banking Corp. (NYSE: SBK) declared a 50 percent increase in the quarterly cash dividend, from $.20 per share to $.30 per share. The dividend is payable Nov. 25, 1992 to stockholders of record at the close of business on Nov. 3, 1992. Approximately 27.8 million shares of Signet Banking Corp. are outstanding.
 "We are pleased and encouraged by the results from our nine months of operations in 1992," said Robert M. Freeman, chairman and chief executive officer. "This dividend increase is a strong signal that our earnings recovery is solid and sustainable. Our balance sheet strength in terms of capital, liquidity and reserve coverage is a sound foundation for future growth and we are well on our way toward achieving our principal corporate goal of enhancing shareholder value."
 Signet Banking Corp. is an $11.6 billion organization with 236 full-service banking offices throughout Virginia, Maryland and the District of Columbia. Signet offers a broad range of financial services to individuals, corporate and governmental entities. It offers specialized services for retail and investment banking, international trade finance, trust, asset-based lending and leasing, cash management, real estate, insurance and consumer financing.
 -0- 10/23/92
 /CONTACT: Teri Temples, Director of Public Relations, Signet Banking Corp., 804-771-7210/
 (SBK) CO: Signet Banking Corp. ST: Virginia IN: FIN SU: DIV


SB -- CH007 -- 4187 10/23/92 13:02 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
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