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TASTY BAKING COMPANY AND PHILLIPS & JACOBS, INCORPORATED ANNOUNCE THIRD QUARTER CASH DIVIDEND

 PHILADELPHIA, July 16 /PRNewswire/ -- Tasty Baking Company (AMEX: TBC) in previous communications to its shareholders in connection with the spin-off of its wholly owned subsidiary, Phillips & Jacobs, Incorporated, stated that the combined cash dividends of both Tasty Baking Company and Phillips & Jacobs, Incorporated after the spin-off were anticipated to be equivalent to the current cash dividend received by Tasty Baking Company shareholders.
 On July 16, 1993, the board of directors of Tasty Baking Company declared a cash dividend of $.125 per share on the outstanding shares of Tasty Baking Company to shareholders of record on Aug. 19, 1993, payable on Sept. 1. In addition, the board of directors of Phillips & Jacobs, Incorporated, on July 15, 1993, declared an initial quarterly cash dividend of $.1125 per share on the outstanding shares of Phillips & Jacobs, Incorporated to shareholders of record on Aug. 19, 1993, payable on Sept. 1.
 The combination of the new Tasty Baking Company dividend rate of $.125 per share with the initial dividend rate for Phillips & Jacobs, Incorporated of $.1125 per share in the aggregate (taking into consideration the two for three distribution of Phillips & Jacobs, Incorporated shares) will be equivalent to the previous Tasty Baking Company quarterly dividend of $.20 per share.
 /delval/
 -0- 7/16/93
 /CONTACT: John M. Pettine, vice president and chief financial officer of Tasty Baking, 215-221-8500/
 (TBC)


CO: Tasty Baking Company ST: Pennsylvania IN: FOD SU: DIV

CC-MJ -- PH030 -- 2639 07/16/93 16:34 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
Words:243
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