Printer Friendly

ACC CORP. DECLARES 3 FOR 2 STOCK SPLIT, INCREASES DIVIDEND

 ROCHESTER, N.Y., Dec. 16 /PRNewswire/ -- At today's meeting, the board of directors of ACC Corp. (NASDAQ/NMS: ACCC) (20-3/4) declared a 3 for 2 stock split in the form of a 50 percent stock dividend. This stock dividend is payable on Feb. 4, 1993 to shareholders of record at the close of business on Jan. 4, 1993. In addition, prior to announcing the stock split, the board declared an increase in the annual dividend from $.16 to $.18 per share. All shareholders of record as of Jan. 4, 1993 will be paid a post stock split quarterly dividend of $.03 per share, which translates into a 12.5 percent increase in the dividend. This quarterly cash dividend payment is payable on Feb. 4, 1993. This was announced today by Richard T. Aab, chairman of the board and chief executive officer of ACC Corp.
 ACC Corp. is a diversified telecommunications company based in Rochester, N.Y. Through its subsidiaries, the company provides long- distance telephone service throughout the Northeastern United States, and is the second largest long-distance reseller in Canada. Just 2 weeks ago the company announced it had received a letter of intent to sell its cellular business for $43.5 million. In addition, the company holds the first international simple resale license granted in the United Kingdom.
 -0- 12/16/92
 /CONTACT: Richard T. Aab of ACC Corporation, 716-987-3150/
 (ACCC)


CO: ACC Corporation ST: New York IN: TLS SU: DIV

BM -- CL007 -- 7617 12/16/92 10:25 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 16, 1992
Words:252
Previous Article:REVCO TO OFFER RIGHTS TO STOCKHOLDERS; NEW DIRECTOR ELECTED TO BOARD
Next Article:HEILIG-MEYERS REPORTS EARNINGS
Topics:


Related Articles
ACC CORP. ANNOUNCES QUARTERLY DIVIDEND
ACC EXPANDS TO VANCOUVER, BRITISH COLUMBIA AND ANNOUNCES QUARTERLY DIVIDEND
ACC CORP. ANNOUNCES QUARTERLY DIVIDEND
ACC CORP. DECLARES 50 CENTS PER SHARE SPECIAL DIVIDEND
C O R R E C T I O N - ACC CORP.
ACC CORP. DECLARES QUARTERLY DIVIDEND
ACC CORP. ANNOUNCES 3 FOR 2 STOCK SPLIT
ACC Distributes Three for Two Stock Split
Sale of 1.2 Million Shares of ACC Corp. Common Stock Completed Today
ACC Corp. Adopts Shareholder Rights Plan

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters