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THE NEW YORK STOCK EXCHANGE AND MERRILL LYNCH PAY TRIBUTE TO WINN-DIXIE FOR 50 YEARS OF CONSECUTIVE DIVIDEND INCREASES

 JACKSONVILLE, Fla., July 1 /PRNewswire/ -- The board of directors of Winn-Dixie Stores, Inc. (NYSE: WIN) today increased its cash dividends for the 50th consecutive year. The new dividend rate of 12 cents per month or $1.44 per year represents a 9.1 percent increase over the previous rate of 11 cents per share per month or $1.32 annually. The announcement was made by A. Dano Davis, chairman and principal executive officer, Winn-Dixie Stores, Inc. To pay tribute to this 50 year milestone, the New York Stock Exchange and Merrill Lynch will host Winn- Dixie executives in New York later today.
 "Longterm records like this one are made possible by dedicated associates, valued customers and loyal shareholders. Over the years, Winn-Dixie has been blessed with all three," said Davis. "We are now moving forward with the most aggressive store opening and remodeling program in Winn-Dixie's history, which we believe positions us well for future growth and performance to allow future dividend increases."
 It is believed that no other company traded on the New York Stock Exchange today has provided consecutive dividend increases to its shareholders for as long as Winn-Dixie. However, verification of the "record" by the New York Stock Exchange is limited by a lack of documentation on dividends dating back that far.
 Winn-Dixie has increased the dividends paid to its shareholders every year since July 1943. On Jan. 1, 1953, the company began paying dividends on a monthly, rather than a quarterly basis. Co-founder A. D. Davis said at that time, it provides shareholders with "even more frequent reminders of the wisdom of their investment." This practice is still maintained by Winn-Dixie today.
 The board declared a regular monthly dividend of 12 cents per share on the common stock of the company, payable on Aug. 2, Sept. 1, and Oct. 1 to shareholders of record at the close of business July 15, Aug. 13, and Sept. 15.
 Merrill Lynch will host a luncheon for Winn-Dixie at 1 p.m., followed by a reception at the New York Stock Exchange at 3 p.m. Winn- Dixie executives attending include Chairman A. Dano Davis, President James Kufeldt and Financial Vice President Richard P. McCook.
 Winn-Dixie is one of the nation's largest supermarket retailers, with 1,157 stores located in the southeastern and southwestern United States. Winn-Dixie is dedicated to providing customers with the lowest possible prices every day.
 -0- 7/1/93
 /CONTACT: Richard McCook, financial vice president of Winn-Dixie Stores, 904-783-5221/
 (WIN)


CO: Winn-Dixie Stores, Inc.; The New AW -- FL004 -- 7619 07/01/93 10:21 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
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