MBNA earnings rise 15%

January 20, 1993

MBNA Corp., a Delaware-based credit card banking company, said yesterday that it earned $51.8 million, or $1.04 a share, in the quarter that ended Dec. 31, compared with earnings of $44.9 million, or 90 cents a share, in the same period a year ago.

MBNA, which was sold to the public in 1991 by its former parent, MNC Financial Inc., showed a comparable increase in earnings for the full year, with a 15.8 percent rise to $172.7 million, or $3.45 a share.

MBNA's board also announced yesterday a two-for-one stock split, payable on Feb. 12 to shareholders of record on Feb. 3.

The board also voted to raise the quarterly dividend to 48 cents a share from 44 cents, which would be 24 cents a share after the split.

The dividend is payable April 1 to stockholders of record on March 18.

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