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 Report (date of earliest event reported) August 17, 1995
Beneficial Corporation
(Exact name of registrant as specified in its charter)
Delaware 1-1177 51-0003820
(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
301 North Walnut Street, Wilmington, Delaware 19801
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (302)425-2500
No Change
(Former name or former address, if changed since last report)
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Item 5. Other Events.
The following is the text of a press release of
Beneficial Corporation, a Delaware corporation, issued on August 17,
1995:
BENEFICIAL CORPORATION RAISES QUARTERLY CASH DIVIDEND 9.3% TO $0.47
- SEVENTH STRAIGHT YEAR OF INCREASE -
WILMINGTON, Del. -- The board of directors of
Beneficial Corporation (NYSE: BNL) today voted to raise the
quarterly cash dividend on the Company's common stock by 9.3% to
$0.47 from $0.43 per share, the seventh consecutive annual increase
in the company's common share dividend. The annual dividend rate
after the increase will be $1.88 per share, up from $1.72.
Finn M.W. Caspersen, chairman and chief executive
officer, commented, "The board's action today reflects the continued
strength of our consumer finance business and our optimism about
Beneficial's earnings outlook. We remain committed to our goal of
increasing total shareholder value over the long term and realize
that growth in the cash dividend is an important factor in that
equation.
"In that regard, we are proud of the fact that over the
7 1/2 year period since the end of our restructuring in 1987,
Beneficial common shares have generated a total return to investors
of 17.1% compounded annually, with all dividends reinvested. This
compares to annual returns of 13.4% for the S&P 500, and 14.6% for
the S&P Financials over the same period," Caspersen concluded.
The dividend -- payable September 30, 1995, to
shareholders of record September 1, 1995 -- is the 265th consecutive
quarterly dividend for shareholders of Beneficial, which has paid
cash dividends without interruption since 1929.
The board also declared the regular semi-annual
dividend of $2.15 per share on the $4.30 Dividend Cumulative
Preferred Stock to stockholders of record at the close of business
September 1, 1995, and payable September 30, 1995. The board also
declared the regular quarterly dividend of $1.375 on the $5.50
Dividend Cumulative Convertible Preferred Stock, payable October 31,
1995, to stockholders of record at the close of business October 2,
1995.
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Beneficial Corporation is a $14 billion, New York Stock
Exchange-listed financial services holding company. Subsidiaries of
the Company provide financial services through their various
consumer finance, banking and insurance operations located
throughout the United States, Canada, the United Kingdom and
Germany. The Beneficial finance system includes more than 1,000
offices offering products and services that meet a broad range of
consumer credit needs, including credit-related insurance.
SIGNATURES
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.
BENEFICIAL CORPORATION
(Registrant)
By /s/ Thomas P. McGough
Thomas P. McGough
Senior Vice President-
Finance and Treasurer
Dated: August 18, 1995
