AMERICAN FEDERAL COLORADO &lt;AFSL> HALVES PAYOUT

  American Federal Savings and Loan
  Association of Colorado said its board cut the quarterly
  dividend to 7-1/2 cts per share from 15 cts.
      The dividend is payable April 14 to holders of record March
  31.
      The company said earnings will continue under pressure this
  year due to the weakness of the Colorado economy and a high
  level of nonearning assets.
  

