DCNY CORP &lt;DCY> HIKES QTLY DIVIDEND

  Discount Corp of New York said its
  board of directors increased its quarterly cash dividend to 20
  cts a share from 15 cts a share.
      DCNY said the dividend is payable April 15, 1987 to
  shareholders of record April 1 , 1987.
      Since the last two-for-one stock split in May 1985, the
  corpoartion has customarily declared 15-cnt-per-share dividends
  for the first three quarters and a final fourth quarter
  dividend based on its total earnings for the year.
      As previously announced, DCNY said its board has also
  recommended a two-for-one common stock split to shareholders.
      If the split is approved at the May 13 annual meeting, the
  quarterly dividend rate will be adjusted to 10 cts a share,
  DCNY said.
  

