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THE COASTAL CORPORATION DECLARES QUARTERLY DIVIDENDS ON COMMON, CLASS A COMMON AND PREFERRED STOCK

 HOUSTON, Aug. 10 /PRNewswire/ -- The board of directors of The Coastal Corporation (NYSE: CGP) today declared quarterly cash dividends on the company's outstanding common stock, Class A common stock and publicly held preferred stock and set Aug. 31, 1993 as the record date for determining holders entitled to receive the payments on these issues.
 This current quarterly cash dividend represents Coastal's 66th consecutive dividend payment since dividends began July 1, 1977.
 Payment schedules are as follows:
 Classes Of Stock Amount Per Share Payment Date
 Common 10 cents Oct. 1, 1993
 Class A Common 9 cents Oct. 1, 1993
 $1.19 series A
 convertible preferred 29.75 cents Sept. 15, 1993
 $1.83 series B
 convertible preferred 45.75 cents Sept. 15, 1993
 $2.125 series H preferred 53.125 cents Sept. 15, 1993
 As recently reported, Coastal's second quarter earnings rose 117 percent from $12.1 million, or 11 cents per share in 1992, to $26.3 million, or 23 cents a share, for the quarter ended June 30, 1993. Net earnings for the six months of 1993 rose form $6.1 million, or 6 cents per share in 1992, to $51.3 million or 47 cents per share in 1993.
 The Coastal Corporation is a Houston-based holding company. Coastal has consolidated assets of more than $10 billion and subsidiary operations in natural gas marketing, transmission and storage, oil and gas exploration and production, petroleum refining and marketing, coal, chemicals, trucking and independent power production.
 -0- 8/10/93
 /CONTACT: Steve Eames, 713-877-6733, or Will Osterloh, 713-877-6732, both of The Coastal Corporation/
 (CGP)


CO: The Coastal Corporation ST: Texas IN: OIL SU: DIV

LG-MP -- NY070 -- 1302 08/10/93 15:25 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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