I'm a little tardy with this important news.....
Norwest Corporation Increases Cash Dividend
MINNEAPOLIS, MN, July 28, 1998 - Norwest Corporation announced today an increase in its quarterly common stock dividend to 18.5 cents per share from 16.5 cents, an annualized increase of 16 percent. The dividend is payable September 1, 1998 to stockholders of record August 7, 1998.
"The decision to increase the dividend shows our confidence in Norwest's ongoing earnings performance, asset quality and balance sheet strength," said John T. Thornton, chief financial officer and an executive vice president of Norwest Corporation. "Our businesses are well positioned to continue their earnings growth while maintaining Norwest's high-quality, conservative approach."
Norwest's last dividend increase was effective December 1, 1997, when the dividend was raised from 15 cents a share to 16.5 cents.
There are approximately 768 million shares of Norwest common stock
outstanding.
Norwest Corporation is a $93.2 billion financial solutions company providing banking, insurance, investments, mortgage and consumer finance through 58,000 team members and 3,847 stores in all 50 states, Canada, the Caribbean, Latin America and elsewhere internationally.
CONTACT: Teresa Morrow, News Media, 612-667-0148 |
