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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Earliest Event Reported
April 27, 1994
Inter-Regional Financial Group, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation of organization)
1-8186 41-1228350
(Commission File Number) (IRS Employer Identification Number)
Dain Bosworth Plaza
60 South Sixth Street
Minneapolis, Minnesota 55402-4422
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (612) 371-7750
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Item 5. OTHER EVENTS
Reference is made to Exhibit 28 filed herewith.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 28 Press release regarding the registrant's Board of
Directors doubling its regular quarterly cash
dividend from 8 cents to 16 cents per share and
authorizing a share repurchase plan.
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SIGNATURE
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 thereunto duly authorized.
INTER-REGIONAL FINANCIAL GROUP, INC.
Registrant
Date: May 2, 1994 By: Daniel J. Reuss
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Daniel J. Reuss
Senior Vice President,
Corporate Controller and
Treasurer
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INTER-REGIONAL FINANCIAL GROUP, INC. AND SUBSIDIARIES
INDEX OF EXHIBITS
Exhibit No.
28 - Press release regarding the registrant's Board
of Directors doubling its regular quarterly cash
dividend from 8 cents to 16 cents per share and
authorizing a share repurchase plan.
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Exhibit 28
INTER-REGIONAL FINANCIAL GROUP, INC.
NEWS RELEASE
IFG BOARD OF DIRECTORS DOUBLES DIVIDEND,
AUTHORIZES SHARE REPURCHASE PLAN
MINNEAPOLIS, April 27 -- Inter-Regional Financial Group (NYSE: IFG), parent
company of regional broker-dealers Dain Bosworth Incorporated, Minneapolis,
and Rauscher Pierce Refsnes, Dallas, today announced that its Board of
Directors has doubled the company's regular quarterly cash dividend from
8 cents to 16 cents per share of common stock and authorized a plan to
repurchase up to 400,000 shares of IFG common stock.
The 16-cent per-share quarterly dividend will be payable on May 25 to
shareholders of record at the close of business on May 11. There are
presently 8,192,608 shares of IFG common stock outstanding.
With respect to the stock-repurchase plan, the company said that purchases
of IFG common stock will be made from time to time at prevailing prices
on the open market, by block purchases, or in privately negotiated
transactions. The repurchased shares will be used for IFG's employee stock
option and other benefit plans, or for other corporate purposes.
Irving Weiser, IFG president and chief executive officer, said, "We believe
the share-repurchase plan is in the best interests of IFG shareholders and
we are pleased that IFG's outstanding financial performance enables us to
further reward our shareholders by doubling the amount of IFG's regular
quarterly dividend." IFG recently reported a record first-quarter in terms
of net revenues and net earnings, although down somewhat on a per-share
basis. This follows IFG's third consecutive record year in 1993.
The closing price of IFG stock on April 22 was 4.5 times earnings and 1.1
times book.
Inter-Regional Financial Group is, through Dain Bosworth Incorporated and
Rauscher Pierce Refsnes, Inc., one of the nation's largest full-service
regional brokerage and investment banking companies. IFG's two broker-
dealers serve individual, institutional, corporate and governmental clients
in 22 predominantly western states. IFG also is the parent company of
Insight Investment Management, Inc., adviser for the Great Hall Funds, and
Regional Operations Group, Inc., a brokerage operations and technology
services subsidiary. The company's common stock is traded on the New York
Stock Exchange under the symbol IFG.
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CONTACTS: Daniel J. Reuss, Treasurer (612) 371-2974; B. J. French,
Corporate Communications (612) 371-2363
