HARRISBURG, Pa. - Keystone Financial Inc. will pay a regular cash dividend of 34 cents per share on July 20 to shareholders as of July 11.

The action by the board of directors followed the bank's annual meeting on May 11, at which five directors were reelected to three-year terms. Shareholders also approved the appointment of Ernst & Young as independent auditor and approved the adoption of the 1995 employee stock purchase plan, the management stock ownership plan, and the nonemployee directors' stock option plan.

Keystone is the $4.7 billion-asset holding company for six banks operating 140 branches in Pennsylvania, Maryland, and West Virginia.

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