The dividend at the nation's sixth-largest banking company is 82 cents a share per quarter.
The combination would be the nation's sixth-largest banking company.
Investors have been dissatisfied for some time with Chase, the sixth-largest American banking company, and its peers.
If kept intact, the network would be the sixth-largest banking company in Texas.
Stocks fell again yesterday, partly in reaction to a 63 percent dividend reduction by Chemical Banking, the nation's sixth-largest banking company.
Earnings at Chase, the sixth-largest banking company in the United States, rose 53 percent.
At year-end 1986, its assets stood at $62.6 billion, making it the nation's sixth-largest banking company.
First Union has built itself into the nation's sixth-largest banking company through years of aggressive buying.
"We are giving ourselves a little room here," said Thomas G. Labrecque, the chairman of Chase, the nation's sixth-largest banking company.
Chase, the nation's sixth-largest banking company, also reported that it had cut its provision for credit losses to $305 million, down 3 percent from the prior year.