BAY STATE GAS ANNOUNCES 2.7% DIVIDEND INCREASE.WESTBOROUGH, Mass.--(BUSINESS WIRE)--April 27, 1995--The directors of Bay State Gas Company (NYSE NYSE See: New York Stock Exchange :BGC BGC General Cable Corporation (stock symbol) BGC Billy Graham Center BGC Baptist General Conference (formerly Swedish Baptist Denomination) BGC Boys & Girls Club BGC Bubblegum Crisis ), at a regularly scheduled meeting today, voted to increase the quarterly common stock dividend by 2.7%. The new quarterly dividend of $.375 per share is payable June 1, 1995 to shareholders of record on May 18, 1995 and increases the annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. dividend rate from $1.46 to $1.50 per share. "This marks the twelfth consecutive year Bay State Gas has declared a dividend increase," commented Roger A. Young, President and Chief Executive Officer. Bay State Gas Company is New England's largest independent natural gas distributor, serving about 292,000 customers in Massachusetts and, through its Northern Utilities, Inc. subsidiary, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). and Maine. Another subsidiary, Granite State Gas Transmission, Inc., owns and operates interstate gas pipelines in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. . The company also markets retail propane within the region and is an equity investor in MASSPOWER, an electric generation facility. CONTACT: Bay State Gas Company, Westborough Carol Churchill, (508) 836-7370 |
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