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THE PENN CENTRAL CORPORATION ANNOUNCES INCREASED QUARTERLY DIVIDEND

THE PENN CENTRAL CORPORATION ANNOUNCES INCREASED QUARTERLY DIVIDEND
 CINCINNATI, Dec. 20 /PRNewswire/ -- The Penn Central Corporation (NYSE: PC) announced that its board of directors today increased the quarterly dividend on its common stock from $.17 per share to $.20 per share. The $.20 dividend declared today will be payable on Jan. 16, 1992 to holders of record on Dec. 31, 1991.
 Penn Central also reported that its board has authorized management to effect repurchases of up to 4.5 million shares of Penn Central Common Stock, at market prices, from time to time in open market or privately negotiated transactions. This action replaces an expiring board authorization under which authority to repurchase approximately 2.1 million shares remained. Penn Central currently has approximately 46.1 million common shares outstanding plus approximately 1.4 million shares remaining issuable to prereorganization creditors.
 Penn Central operates businesses primarily in the areas of insurance, defense services, industrial manufacturing and energy.
 -0- 12/20/91
 /CONTACT: David H. Street, senior vice president of Penn Central Corporation, 513-579-6600/
 (PC) CO: The Penn Central Corporation ST: Ohio IN: INS SU: DIV


KD -- CL005 -- 4407 12/20/91 13:40 EST
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Publication:PR Newswire
Date:Dec 20, 1991
Words:193
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