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October 20, 1998
First Union Corporation Declares Cash Dividend on Common Stock
CHARLOTTE - The board of directors of First Union Corporation (NYSE: FTU) today declared a regular quarterly dividend of 42 cents per share on its common stock, representing a 31% increase over the dividend declared in the same quarter last year.
The common stock dividend is payable on December 15, 1998, to holders of record as of the close of business on November 30, 1998.
Charlotte-based First Union Corporation (NYSE:FTU) is a leading provider of financial services to more than 16 million retail and corporate customers throughout the East Coast and the nation. First Union is the nation's sixth largest bank holding company, based on assets of approximately $235 billion as of Sept. 30, 1998, and ranks among the top 15 financial services companies in the world, based on market capitalization. The company operates full service banking offices in Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and Washington, D.C.
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