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PITTSBURGH--January 9, 1998--
The Board of Directors of Alcoa today declared a quarterly common stock
dividend of 37.5 cents per share that is payable February 25, 1998, to
shareholders of record at the close of business on February 6, 1998.
Alcoa's Dividend Policy
Under Alcoa's common stock dividend policy, the company pays a base
quarterly dividend, currently 25 cents per share, and a bonus dividend
linked directly to financial performance. The bonus dividend is 30% of
earnings over $3.00 per share in a calendar year. Earnings per share for
1997 were $4.66.
The bonus dividend of 50 cents per share will be paid in four equal
quarterly installments of 12.5 cents per share during 1998. The payment
and record dates will be the same as for base quarterly dividends.
The directors also voted a regular dividend of 93.75 cents per share on
Alcoa's $3.75 cumulative preferred stock, payable April 1, 1998 to
shareholders of record on March 13, 1998.
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