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STERLING CHEMICALS ANNOUNCES QUARTERLY CASH DIVIDEND

 STERLING CHEMICALS ANNOUNCES QUARTERLY CASH DIVIDEND
 HOUSTON, April 1 /PRNewswire/ -- Sterling Chemicals, Inc. (NYSE: STX) announced today that its board of directors has declared a cash dividend for the quarter ended March 31, 1992, of $.075 per share of Sterling common stock, $.01 par value per share, payable on April 22, 1992, to holders of record at the close of business on April 13, 1992.
 On March 23, 1992, Sterling Chemicals and Tenneco Inc. announced that they had entered into an agreement in principle for a Sterling subsidiary to purchase the Canadian pulp chemicals business of a Tenneco subsidiary. The sale price would be approximately Canadian $240 million, or U.S. $202 million.
 It is anticipated that the board of directors will thoroughly review the existing dividend policy as a result of the significant additional debt which will be required if the acquisition is consummated. The company's board of directors and management also anticipate that lenders may require covenants that prohibit or place additional restrictions on the company's ability to pay future dividends, at least initially.
 Sterling was formed in 1986 to acquire the Texas City petrochemicals plant of Monsanto Company. Sterling is a major producer of seven intermediate petrochemical products -- styrene monomer, acrylonitrile, acetic acid, plasticizers, lactic acid, tertiary butylamine and sodium cyanide.
 Sterling is headquartered in Houston, Texas.
 -0- 4/1/92
 /CONTACT: J. David Heaney of Sterling Chemicals, 713-650-3700/
 (STX) CO: Sterling Chemicals, Inc. ST: Texas IN: CHM SU: DIV


PS -- NY107 -- 4120 04/01/92 18:00 EST
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Publication:PR Newswire
Date:Apr 1, 1992
Words:252
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