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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: June 15, 1998
OLD KENT FINANCIAL CORPORATION
(Exact name of registrant as
specified in its charter)
MICHIGAN 0-12216 38-1986608
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification no.)
incorporation)
111 LYON STREET, N.W.
GRAND RAPIDS, MICHIGAN 49503
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (616) 771-5000
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Item 5. OTHER EVENTS.
On June 15, 1998, Old Kent Financial Corporation issued the press
releases attached as Exhibit 99 to this Form 8-K.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS.
(c) Exhibits:
99 Press Releases dated June 15, 1998.
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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.
Dated: June 15, 1998 OLD KENT FINANCIAL CORPORATION
(Registrant)
By: /S/ ALBERT T. POTAS
Albert T. Potas
Senior Vice President
and Controller
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EXHIBIT INDEX
EXHIBIT NUMBER DOCUMENT
99 Press Releases dated June 15, 1998.
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EXHIBIT 99
NASDAQ: OKEN
FOR RELEASE: IMMEDIATELY
DATE: JUNE 15, 1998
CONTACT: ROBERT H. WARRINGTON
VICE CHAIRMAN AND CHIEF FINANCIAL OFFICER
(616) 771-5838
OLD KENT DECLARES STOCK DIVIDEND
AND AUTHORIZES STOCK REPURCHASE
Grand Rapids, Michigan At a meeting held on June 15, 1998, the Board
of Directors of Old Kent Financial Corporation declared a 5% stock dividend
payable July 17, 1998, to shareholders of record on June 26, 1998. Management
anticipates that the Corporation's next regular quarterly cash dividend will
be paid on September 15, 1998, and expects that the current dividend rate of
$0.18 per share will remain in effect for both current and new shares.
At that same meeting, Old Kent's directors authorized management to
purchase up to 6.0 million shares of the Corporation's common stock by July
31, 1999. It is anticipated that these shares will be purchased by the
Corporation in a systematic program of open market and privately negotiated
purchases. Shares so repurchased will be reserved for later reissue in
connection with potential future stock dividends, dividend reinvestment
plans, employee benefit plans, and other general corporate purposes.
During June 1998, Old Kent completed its reacquisition of 6.0 million
shares which were authorized for repurchase in 1997.
Old Kent Financial Corporation is a bank holding company headquartered
in Grand Rapids, Michigan, which operates over 200 full service banking
offices in Michigan and Illinois, and 114 mortgage lending sites in 27 states.
At March 31, 1998, Old Kent had total assets of $14.2 billion.
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