Alcoa declares base dividend; will pay bonus dividend during 1996.PITTSBURGH--(BUSINESS WIRE)--Jan. 12, 1996--The Board of Directors of Alcoa Alcoa U.S. company, the world's largest producer of aluminum. Established in Pittsburgh, Pa., in 1888, it adopted the name Aluminum Co. of America in 1907. Alcoa introduced aluminum foil in 1910 and found uses for aluminum in the emerging aviation and automobile industries. today declared a base quarterly dividend of 22.5 cents a share that is payable February February: see month. 25, 1996 to shareholders of record on February 2, 1996. The board also declared a bonus dividend of 43 cents a common share, under the company's dividend policy. The bonus dividend will be paid in four installments of 10.75 cents a share during 1996. The payment and record dates will be the same as for base dividends. Under the policy, Alcoa pays a bonus dividend equal to 30 percent of earnings over $3.00 a common share in a calendar year. Alcoa recently reported 1995 earnings of $790.5 million, or $4.43 a share. The directors also voted a regular dividend of 93.75 cents a share on Alcoa's $3.75 cumulative preferred stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. , payable April 1, 1996 to shareholders of record on March 15, 1996. Note to editors: Alcoa common stock was split two-for-one in February, 1995. CONTACT: Alcoa, Pittsburgh Pittsburgh (pĭts`bərg), city (1990 pop. 369,879), seat of Allegheny co., SW Pa., at the confluence of the Allegheny and the Monongahela rivers, which there form the Ohio River; inc. 1816. A. T. Posti Posti or Posten (Finland) (in full Itella Oyj Abp) is the Finnish state-owned postal service. It has been organised as a public limited company since 2001, and is owned entirely by the Finnish government. , 412/553-4465 |
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