COLUMBUS, Ohio, April 21 /PRNewswire/ -- John B. McCoy, Chairman and Chief
Executive Officer of BANC ONE CORPORATION, Columbus, Ohio (NYSE: ONE)
announced today that at the board meeting, following the annual meeting, BANC
ONE's directors declared a regular quarterly dividend of $.38 per common
share. The dividend, which is an increase of 10.1 percent over last year's
second quarter dividend of $.345 per share, will be paid on June 30 to
shareholders of record as of June 15, 1998.
Earlier today, BANC ONE CORPORATION announced first quarter 1998 earnings
of $517.6 million, or $.79 per share, both up a significant 36 percent from
$381.9 million and $.58 per share in the first quarter of 1997. Exceptional
growth in net income was fueled primarily by positive revenue growth across
all lines of business. In addition, targeted loans grew a solid 12 percent on
an annualized basis since the 1997 fourth quarter.
BANC ONE CORPORATION had managed total assets of $146.7 billion, total
assets of $116.3 billion, and common equity of $10.4 billion at March 31,
1998. BANC ONE operates over 1,300 banking centers in 12 states. BANC ONE
also owns several additional corporations that engage in a full range of
financial services. Information about BANC ONE's financial results and its
products and services can be accessed on the Internet at:
http://www.bankone.com; through InvestQuest at: http://www.investquest.com;
or through Fax-on-demand at: 614-844-3860.
SOURCE BANC ONE CORPORATION
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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 084675
Related links:
http://www.bankone.com
http://www.investquest.com
CONTACT:
Jay S. Gould, 614-248-0189, or John A.
Russell, 614-248-5989, both of BANC ONE
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