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UNITED STATES
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
AUGUST 5, 1998
Date of Report (Date of earliest event reported)
SAFECO CORPORATION
(Exact name of registrant as specified in Charter)
WASHINGTON 1-6563 91-0742146
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
SAFECO Plaza, Seattle, Washington 98185
(Address of principal executive offices) (Zip Code)
(206) 545-5000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
SAFECO CORPORATION DECLARES
REGULAR DIVIDEND
SEATTLE -- (August 5, 1998)--SAFECO Corporation (NASDAQ:SAFC) today
declared a regular dividend of 35 cents per share on its common stock. The
dividend is payable October 26, 1998, to shareholders of record October 9, 1998.
SAFECO also announced today that its board of directors approved the
purchase from time-to-time of up to $200 million worth of its common stock
through open market and negotiated purchases. SAFECO believes that its common
stock represents a good value. When added to the ongoing authorization to
purchase up to 2 million shares of common stock, of which approximately 500,000
shares had been purchased at July 31, 1998, the combined authorization will
permit an accumulation of up to an additional 4.2% of SAFECO's outstanding
shares.
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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 hereunto duly authorized.
SAFECO CORPORATION
Dated: August 7, 1998 By: /s/ H. Paul Lowber
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H. Paul Lowber
Vice President, Controller and
Chief Accounting Officer
