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Archive for Thursday, April 22, 1999

BUSINESS BRIEFCASE FOR THURSDAY

April 22, 1999

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CapFed sets dividend

policy, declares payout

Capitol Federal Financial initiated a quarterly cash dividend policy and set its first payout at 10 cents per share payable May 21 to shareholders of record on May 5.

"We are committed to enhancing shareholder value and we intend for this immediate payment of a cash dividend to be one more example of this commitment," said John C. Dicus, chairman and chief executive officer of the Topeka-based thrift holding company.

Capitol Federal's stock was unchanged Wednesday at $9.44 per share.

Communicolor price

disclosed: $13.8 million

Communicolor Inc., the direct-mail printing company that employs about 150 people at a plant in Eudora, was sold for $13.8 million, according to its former owner's latest earnings statement.

Standard Register, which sold the company to R.R. Donnelley and Sons Co., said first-quarter earnings were boosted by the sale to $26.95 million, or 95 cents per diluted share, from $9.69 million, or 34 cents per diluted share, a year ago. The Ohio-based company said the sale accounted for a 48-cent gain per share.

Communicolor also has an Ohio manufacturing plant and sales offices nationwide.

Borders group chief

quits after 5 months

Borders Group Inc.'s chief executive resigned from the nation's No. 2 bookstore chain, departing as the company struggles to keep pace with rivals Barnes & Noble and Amazon.com.

After just five months on the job, Philip M. Pfeffer resigned as CEO and as a director at the company. Robert DiRomualdo, Borders chairman and former CEO, will take the titles of president and CEO for now.

The Ann Arbor, Mich.-based company's stock fell $2.50, or nearly 15 percent, to $14.56. Borders has a store in downtown Lawrence.

Block unit acquires

accounting firm assets

HRB Business Services, an accounting subsidiary of H&R Block Inc., acquired certain assets of C.W. Amos & Co., LLC, a Baltimore accounting and consulting firm.

Terms of the acquisition were not disclosed.

Kansas City, Mo.-based Block launched HRB last May with the acquisition of Donnelly Meiners Jordan Kline of Kansas City. Since then, it has acquired assets of four other regional accounting and consulting practices, and is on the lookout for more.

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