WARNER COMPUTER SYSTEMS ANNOUNCES DECLARATION OF FIVE PERCENT STOCK DIVIDEND
WARNER COMPUTER SYSTEMS ANNOUNCES DECLARATION OF FIVE
PERCENT STOCK DIVIDEND
FAIRL LAWN, N.J., Dec. 19 /PRNewswire/ -- Warner Computer Systems, Inc. (NYSE: WCP) today announced that its board of directors has declared a 5 percent stock dividend to the company's stockholders. The stock distribution will be payable on Jan. 14, 1992 to the holders of record of common stock at the close of business on Dec. 31, 1991. Cash will be paid in lieu of any fractional shares which may be issuable to stockholders, based upon the closing price of the company's stock on the record date.
Harvey Krieger, chairman of the board of directors of Warner, stated that "the stock dividend was declared as an expression of the board of directors' confidence in Warners' future and is intended to create wider distribution and greater market depth for the company's common stock which should benefit all stockholders".
Warner Computer Systems, Inc., a New York Stock Exchange Company, provides policy administration, underwriting and claims services to automobile insurance companies.
/CONTACT: Bradley J. Hughes of Warner Computer Systems, 201-794-4800/
(WCP) CO: Warner Computer Systems Inc. ST: New Jersey IN: CPR SU: DIV SM-KW -- NY031 -- 3815 12/19/91 10:56 EST