DENVER - The board of Affiliated Bankshares of Colorado Inc. has approved a 2-cent dividend increase, to 23 cents per common share for the third quarter.

The dividend is payable Sept. 15 to stockholders of record on Sept. 1.

The $2.8 billion-asset banking company, which has agreed to be acquired by Banc One Corp., cited a stronger economy, improved earnings, and stronger capital as reasons for the 9.5% rise.

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