Belco Declares Dividend On 61/2% Convertible Preferred Stock.NEW YORK--(BUSINESS WIRE)--Aug. 17, 1998--At its regular meeting on July July: see month. 28, 1998, the Board of Directors of Belco Oil & Gas Corp. (NYSE NYSE See: New York Stock Exchange : BOG bog, very old lake without inlet or outlet that becomes acid and is gradually overgrown with a characteristic vegetation (see swamp). Peat moss, or sphagnum, grows around the edge of the open water of a bog (peat is obtained from old bogs) and out on the surface. ) declared the second quarter 1998 dividend of $0.40625 per share on the 61/2% 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. of the Company (NYSE:BOGPR), payable September 15, 1998, to shareholders of record as of September 1, 1998. The indicated annual rate is $1.625. Belco is an independent energy company engaged in the exploration, development, acquisition and production of natural gas and oil.
CONTACT: Dominick J. Golio - Chief Financial Officer
(212) 508-9513
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