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May Stores ups dividend

May Department Stores Co., St. Louis, approved an increase in the annual dividend rate to 94 cents per share from a prior level of 93 cents.

The higher dividend level will be first payable March 15 to shareholders of record as of March 1. The boost in the payout marks the 26th straight year of dividend increases and marks 90 years of uninterrupted cash dividends.

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