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WARNER INSURANCE SERVICES DECLARES FIVE-FOR-FOUR STOCK SPLIT AND A CASH DIVIDEND OF $.01 PER SHARE

 FAIR LAWN, N.J., March 18 /PRNewswire/ -- Warner Insurance Services, Inc. (NYSE: WCP) today announced that its board of directors has declared a five-for-four stock split by way of a 25 percent stock dividend and a quarterly cash dividend of $.01 on each share of the company's common stock to its stockholders. The stock distribution and the cash dividend will be payable on May 5, 1993 to the holders of record of common stock at the close of business on April 23, 1993.
 Cash will be paid in lieu of any fractional shares which may be issuable to stockholders in connection with the stock split by way of a 25 percent stock dividend, based upon the closing price of the company's stock on the record date. The cash dividend will be paid on the number of shares of the company's common stock outstanding following the payment of the stock split.
 Harvey Krieger, president and chairman of the board of directors of Warner, stated that "the stock split and the cash dividend were declared as an expression of the board of directors' confidence in Warner's future, and the stock split by way of 25 percent stock dividend is intended to create wider distribution and greater market depth for the company's common stock which should benefit all stockholders."
 Warner Insurance Services, Inc., a New York Stock Exchange Company, is a full service provider of automobile insurance policy processing and administrative services to the insurance industry.
 -0- 3/18/93
 /CONTACT: Bradley J. Hughes, vice president-finance and administration of Warner Insurance Services, 201-794-4817/
 (WCP)


CO: Warner Insurance Services, Inc. ST: New Jersey IN: INS SU: DIV

WB -- NY021 -- 7369 03/18/93 10:07 EST
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Publication:PR Newswire
Date:Mar 18, 1993
Words:282
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