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BRIEFLY

Aerospace

September 16, 1993|From Times Staff and Wire Reports

General Dynamics Sets Third Special Dividend: The diversified defense contractor said it set a special dividend of $12 a share on its common stock and raised its regular quarterly dividend 50% to 60 cents a share. On Wall Street, the stock was boosted $2.875 to end at $99.50 on the New York Stock Exchange. The special distribution, payable Oct. 12 to holders of record as of Sept. 28, is the third such payment made under the plan adopted by the board in May, 1992, to sell off some of its businesses. The increase in the quarterly dividend is payable Nov. 12 to holders of record as of Oct. 15. General Dynamics has returned more than $2 billion to shareholders, using funds derived from the sale of non-core assets, including its Cessna, missiles and tactical aircraft businesses.

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