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STERLING CHEMICALS, INC. SUSPENDS DIVIDEND

 HOUSTON, July 1 /PRNewswire/ -- Sterling Chemicals, Inc. (NYSE: STX) announced today that its board of directors has suspended the $0.02 per share quarterly cash dividend. The company noted that its petrochemicals business continues to perform at a lower level than expected at the beginning of the fiscal year. As such, the company intends to conserve cashflow for debt service and its capital requirements.
 Sterling is a major producer of seven intermediate petrochemical products. The company also produces sodium chlorate at four plants and sodium chlorite at one plant, all in Canada, as well as licenses and constructs large-scale chlorine dioxide generators for the pulp industry.
 Sterling is headquartered in Houston, and its common stock is listed on the New York Stock Exchange under the symbol STX.
 -0- 7/1/93
 /CONTACT: J. David Heaney of Sterling, 713-650-3700/
 (STX)


CO: Sterling Chemicals, Inc. ST: Texas IN: CHM SU: DIV

GK -- NY098 -- 7926 07/01/93 16:46 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:158
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