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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) May 16, 1994
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First Chicago Corporation
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 1-6052 36-2669970
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
One First National Plaza, Chicago, IL 60670
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE 312-732-4000
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ITEM 5. OTHER EVENTS
The Regsitrant hereby incorporates by reference the information contained in
Attachment A hereto in repsonse to this Item 5.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First Chicago Corporation
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(REGISTRANT)
Date: May 16, 1994 By: /s/ Robert A. Rosholt
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Title: Executive Vice President
and Chief Financial
Officer
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ATTACHMENT A
CHICAGO, May 13, 1994 -- First Chicago Corporation said today that its
Board of Directors took the following dividend and capital management actions:
. approved a 25 percent increase in the quarterly common stock
dividend to 50 cents a share, from 40 cents a share;
. authorized the repurchase of up to 4.5 million common shares in
addition to the 2.5 million share repurchase program announced
in November, 1993;
. authorized the redemption of the $150 million par value Series D
Preferred Stock.
The common stock dividend is payable on July 1, 1994, to stockholders of
record June 3, 1994.
The repurchase program will be implemented over the next two to three
years through open market or privately negotiated transactions. To date, under
the existing program the Corporation has repurchased 478,200 shares.
Of the total seven million shares that have been authorized for
repurchase, five million shares will be designated to meet obligations under the
Corporation's employee benefit plans. The remaining two million shares will be
used to manage the overall capital position of the Corporation. The total shares
authorized for repurchase represent about 8 percent of total shares outstanding.
The Board authorized the redemption on July 1, 1994 of all of the 10%
Cumulative Preferred Stock, Series D at a redemption price of $25.75 per share.
The previously declared regular quarterly dividend of $0.625 per share will be
paid, separately from the redemption price, on July 1, 1994, to stockholders of
record on June 3, 1994.
The Corporation expects to send a notice of redemption to registered
holders of the Series D Preferred Stock on or about May 27, 1994. To receive the
redemption price, holders of the Preferred Stock will be instructed to deliver
their Preferred Stock certificates and a transmittal form to First Chicago Trust
Company of New York, the Corporation's redemption agent. The addresses for First
Chicago Trust Company of New York are 14 Wall Street, 8th Floor, Suite 4680, New
York, New York, 10005 (for hand delivery) and P.O. Box 2560, Suite 4660, Jersey
City, NJ 07303-2560 (for mail delivery).
