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VARITY DECLARES DIVIDENDS ON TWO CLASSES OF STOCK

Varity Corp., the Toronto-based manufacturing firm that plans to move its corporate headquarters to Buffalo, has declared a quarterly dividend of 3.25 cents per share of Class I Series A preferred stock, payable Jan. 31 to shareholders of record Jan. 18.

The company also declared a dividend of 4.06 cents Canadian per share of its Class II Series A preferred shares, which are controlled by the Canadian and Ontario governments.

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