Bay State Gas Announces Common Stock Dividend Increase.WESTBOROUGH, Mass.--(BUSINESS WIRE)--May 7, 1998--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 2.5%. The new quarterly dividend of $0.405 per share is payable June 1, 1998 to shareholders of record on May 18, 1998 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 $1.58 to $1.62 per share. This marks the fifteenth consecutive year Bay State has declared a dividend increase. Bay State Gas Company operates in three related energy business segments: Utility; Energy Products & Services; and Energy Ventures. Geographically, Bay State is the largest gas utility 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. , serving more than 308,000 natural gas customers in the states of Massachusetts, 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. The company's nonregulated Energy Products & Services business serves about 94,000 residential, commercial, and industrial customers throughout the U.S., and markets products and services through its subsidiaries, EnergyUSA(TM), Savage-Alert, Inc., and EnergyEXPRESS(TM). Bay State's Energy Ventures segment develops business opportunities and projects which are closely related to the company's core businesses. On December 18, 1997, Bay State announced its intent to merge with NIPSCO NIPSCO Northern Indiana Public Service Company Industries. NIPSCO Industries, with headquarters in Merrillville, Indiana, is an energy/utility-based holding company. Its regulated subsidiaries provide natural gas and electricity in northern Indiana, water in central Indiana, and interstate natural gas pipeline services. The company's nonregulated businesses are primarily energy or utility focused. Final approval on the merger is expected by the close of Bay State's fiscal year. For additional information about Bay State, EnergyUSA(TM), Savage-Alert, EnergyEXPRESS(TM) and NIPSCO Industries, Inc., please visit the following web sites: "http://www.bgc.com;" "http://www.energyusa.com;" and "http://www.nipsco.com." CONTACT: Bay State Gas Media Contact: Carol Churchill, (508) 836-7370 Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: Liz Foley, (508) 836-7396 |
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