ALLEGHANY CORP &lt;Y> DECLARES 1987 DIVIDEND

  Alleghany Corp said its board 
  declared a stock dividend of one share of its common for every
  50 shares outstanding, as the company's dividend on its company
  for 1987.
      It said the dividend will be distributed on April 30, to
  holders of record on March 30.
      Alleghany said cash will be paid in lieu of any fractional
  shares of its stock.
  

