DCNY CORP <DCY> HIKES QTLY DIVIDEND
Discount Corp of New York said its
board of directors increased its quarterly cash dividend to 20
cts a share from 15 cts a share.
    DCNY said the dividend is payable April 15, 1987 to
shareholders of record April 1 , 1987.
    Since the last two-for-one stock split in May 1985, the
corpoartion has customarily declared 15-cnt-per-share dividends
for the first three quarters and a final fourth quarter
dividend based on its total earnings for the year.
    As previously announced, DCNY said its board has also
recommended a two-for-one common stock split to shareholders.
    If the split is approved at the May 13 annual meeting, the
quarterly dividend rate will be adjusted to 10 cts a share,
DCNY said.
   
 Reuter
