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WACHOVIA DECLARES QUARTERLY DIVIDEND; AUTHORIZES STOCK REPURCHASE

 WINSTON-SALEM, N.C., July 23 /PRNewswire/ -- Wachovia Corporation's board of directors today declared a third quarter dividend of $.27 per share on common stock payable September 1, 1993, to shareholders of record on August 9, 1993.
 The dividend is unchanged from the previous quarter, but is 8 percent higher than the $.25 per share paid in the third quarter of 1992. For the year to date, the dividend totals $.81 per share, up 8 percent from $.75 per share paid in 1992.
 The per share amounts are adjusted for the two-for-one stock split effective April 1, 1993.
 In other action today, the board authorized the repurchase of up to 5 million shares of the corporation's common stock, an increase in the number of shares previously authorized. The corporation had 173,498,420 shares of common stock outstanding as of June 30, 1993. The corporation intends to use some or all of the shares repurchased for its employee stock plans, dividend reinvestment plan and other appropriate purposes.
 Wachovia Corporation's common shares are traded on the New York Stock Exchange under the symbol WB.
 -0- 7/23/93
 /CONTACT: (Media) Nancy P. Lovelace, Wachovia, 919-770-5696/
 (WB)


CO: Wachovia Corporation ST: North Carolina IN: FIN SU: DIV

CM -- CH006 -- 5144 07/23/93 12:12 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
Words:213
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