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SOUTHTRUST CORP. ANNOUNCES STOCK SPLIT AND DIVIDEND INCREASE

 BIRMINGHAM, Ala., April 14 /PRNewswire/ -- Wallace D. Malone Jr., chairman and chief executive officer of SouthTrust Corporation (NASDAQ: SOTR), announced today that the board of directors declared a three-for-two split of the common stock of the corporation.
 The split is to be effected in the form of a 50 percent stock dividend but will be accounted for as a stock split.
 The additional shares will be distributed on May 19 to stockholders of record at the close of business on April 23.
 SouthTrust also announced a quarterly cash dividend of $.15, payable on July 1 to stockholders of record at the close of business on May 28. The dividend has been adjusted to reflect the stock split.
 "We feel the stock split supports our long-standing policy of enhancing stockholder value, as seen in the 23 consecutive years of cash dividend increases and the consistent profitability of the company," Malone said. "With more than 15,000 stockholders owning approximately 51.3 million shares of SouthTrust common stock, we feel the split will increase the availability and improve the marketability of our stock."
 SouthTrust Corporation reported net income per share of $.69 for the first quarter of 1993, a 19 percent increase over the first quarter of 1992. Total assets of the corporation are $13.4 billion, placing it in the top 50 bank holding companies in the nation. SouthTrust currently operates 40 SouthTrust Banks and several bank-related affiliates in the six-state area of Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee.
 SouthTrust Corporation common stock is traded on the national over- the-counter market under the NASDAQ symbol SOTR.
 -0- 4/14/93
 /CONTACT: Aubrey D. Barnard of SouthTrust, 205-254-5509/
 (SOTR)


CO: SouthTrust Corporation ST: Alabama IN: FIN SU: DIV

BN-TG -- AT001 -- 5529 04/14/93 08:32 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
Words:298
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