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Non-Tech : Pep Boys (PBY) Automotive Parts and Accessories
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To: John L. who wrote (4)4/15/1997 12:32:00 PM
From: Pullin-GS   of 116
 
Pep Boys announces 14% dividend increase

PHILADELPHIA, March 27 /PRNewswire/ -- The Board of Directors of Pep Boys-- Manny, Moe & Jack (NYSE: PBY), the nation's leading automotive aftermarket and service chain, approved a 14% increase in the cash dividend. This is the 21st consecutive year that the cash dividend has been increased and the 47th consecutive year that a cash dividend has been paid. The increased dividend of $.24 annually and $.06 quarterly will be paid on April 28, 1997, to holders of record on April 14, 1997. On March 19, Pep Boys announced record sales and earnings for the fiscal year ended February 1, 1997. Sales for the year rose to $1,828,539,000 while earnings increased 24% to $100,824,000.

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