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STANDARD FEDERAL BANK DECLARES A 9-PERCENT INCREASE IN ITS REGULAR QUARTERLY DIVIDEND, FROM $0.11 PER SHARE TO $0.12 PER SHARE

 STANDARD FEDERAL BANK DECLARES A 9-PERCENT INCREASE IN


ITS REGULAR QUARTERLY DIVIDEND, FROM $0.11 PER SHARE TO $0.12 PER SHARE
 TROY, Mich., July 16 /PRNewswire/ -- Thomas R. Ricketts, chairman and chief executive officer of Standard Federal Bank (NYSE: SFB), announced today that the board of directors of the bank has declared a regular quarterly dividend of $0.12 per share to stockholders of record on Aug. 18, 1992, payable Sept.1, 1992, representing an increase of over 9 percent compared to the bank's $0.11 per share dividend paid by the bank for each of the previous two quarters.
 This is the second dividend increase in the last six months and reflects the bank's continued higher levels of operating earnings and capital ratios. Ricketts cautioned that the bank is not establishing a policy of bi-annual dividend increases. The bank will consider further dividend increases based upon future earnings and capital levels.
 -0- 7/16/92
 /CONTACT: Joseph Krul of Standard Federal Bank, 313-643-9600, or 800-482-3930 (in Michigan), or 800-874-3716 (in Indiana)/
 (SFB) CO: Standard Federal Bank ST: Michigan IN: FIN SU: DIV


KR -- DE027 -- 9858 07/16/92 14:45 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
Words:193
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