Conformed
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
Date of Report (date of earliest event reported) August 22, 1996
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)
Item 5. Other Events.
The following is the text of a press release of
Beneficial Corporation, issued on August 22, 1996:
BENEFICIAL CORPORATION RAISES QUARTERLY CASH DIVIDEND
10.6% TO $0.52
- EIGHTH CONSECUTIVE 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 10.6 percent to $0.52
from $0.47 per share, the eighth consecutive annual increase in the
company's common share dividend. The annual dividend rate after
the increase will be $2.08 per share, up from $1.88.
"Maximizing the long-term total return for our shareholders remains
our key corporate goal, and we realize that dividend growth is a
key factor in that equation," said Finn M.W. Caspersen, chairman
and chief executive officer. "We are proud of the fact that over
the eight and one-half year period since the end of 1987,
Beneficial Corporation common shares have provided a total return
to investors, with all dividends reinvested, of 19.7% compounded
annually compared to 16.0% for the S&P 500, and 18.2% for the S&P
Financial Index. Maintaining an above-index return in the future
remains a key objective."
The dividend -- payable September 30, 1996, to shareholders of
record September 3, 1996 -- is the 269th 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 3, 1996,
and payable September 30, 1996. The board also declared the
regular quarterly dividend of $1.375 on the $5.50 Dividend
Cumulative Convertible Preferred Stock, payable October 31, 1996,
to stockholders of record at the close of business October 1, 1996.
Beneficial Corporation is a $15 billion, New York Stock
Exchange-listed financial services holding company. Subsidiaries
of the Company provide financial services through their various
consumer finance, credit-card, banking and insurance operations
located throughout the United States, Canada, the United Kingdom,
Ireland and Germany.
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/ Samuel F. McMillan
Samuel F. McMillan
Senior Vice President
and Treasurer
Dated: August 22, 1996
