BOWATER DECLARES QUARTERLY DIVIDENDS.GREENVILLE, SC--(BUSINESS WIRE)--Aug. 23, 1995--The Board of Directors of Bowater Incorporated (NYSE-BOW) today declared a quarterly cash dividend of $0.15 per common share payable October 2, 1995, to holders of record at the close of business September 11, 1995. The Board also declared a quarterly cash dividend on the company's LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , Series A, at a rate of 4.953906% per annum Per annum Yearly. , equal to $0.64 per share, payable October 16, 1995, to holders of record at the close of business September 11, 1995. A quarterly cash dividend of $0.41125 per depositary share was declared on the company's Series B Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , payable October 2, 1995, to holders of record at the close of business September 11, 1995. Each depositary share represents a one-fourth interest in a share of 7.0% Series B Convertible Preferred Stock. A quarterly cash dividend of $0.5250 per depositary share was declared on the company's Series C 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 October 16, 1995, to holders of record at the close of business September 11, 1995. Each depositary share represents a one-fourth interest in a share of 8.40% Series C Cumulative Preferred Stock. Bowater Incorporated is the largest producer of newsprint in the U.S., and also makes coated and uncoated groundwood papers, bleached kraft pulp, continuous computer forms and lumber products. It has five paper mills, eight converting plants and 3.7 million acres of timberlands in the U.S. and Canada. Bowater Incorporated common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , U.S. regional exchanges, the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and the Swiss Stock Exchanges. CONTACT: Bowater Inc., Greenville Media Contact: Robert D. Leahy 803/282-9571 (Office) 803/234-0941 (Home) or Analyst Contact: Donald J. D'Antuono 803/282-9370 (Office) 803/234-5899 (Home) |
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