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STORER COMMUNICATIONS ANNOUNCES DIVIDEND ON PREFERRED STOCK

 STORER COMMUNICATIONS ANNOUNCES DIVIDEND ON PREFERRED STOCK
 MIAMI, Feb. 26 /PRNewswire/ -- Storer Communications, Inc. announced today that it has declared a dividend on its 16 percent cumulative redeemable exchangeable preferred stock, payable in additional shares to holders of record on March 9, 1992, equal to .625 percent of the outstanding preferred stock. Storer did not declare the 3.375 percent cash portion of the dividend; this portion will cumulate. In the event that six such quarterly cash dividends are permitted to cumulate, rather than being paid, holders of the preferred stock will be entitled to elect two directors to Storer's board.
 Storer's subsidiaries own and operate cable television systems serving approximately 1.6 million subscribers in 12 states. Its corporate headquarters are in Miami.
 -0- 2/26/92
 /CONTACT: Kenneth Danielson of Storer Communications, 305-899-1000/ CO: Storer Communications, Inc. ST: Florida IN: TLS SU: DIV


JJ-AK -- FL013 -- 3002 02/26/92 17:15 EST
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Publication:PR Newswire
Date:Feb 26, 1992
Words:154
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