Central Louisiana Electric declares increased common dividend and regular preferred dividends.PINEVILLE, La.--(BUSINESS WIRE)--April 21, 1995--The board of directors of Central Louisiana
Central Louisiana, also known as the Crossroads region, is the part of Louisiana which includes the following parishes: Allen Parish, Beauregard Parish, Catahoula Parish, Concordia Parish, Grant Electric Co. Inc. (NYSE NYSE See: New York Stock Exchange :CNL CNL CityNightLine (German Rail) CNL Cancel CNL Clinical Nurse Leader Cnl Colonel CNL Center for Naval Leadership CNL Compensated Neutron Log (oil industry) ) today voted to raise the quarterly cash dividend on the company's common stock by 1 cent per share, to 37.5 cents from 36.5 cents. The increased common dividend is payable May 15, 1995 to shareholders of record May 1, 1995. The board also declared regular quarterly dividends on all issues of 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. . Following is a summary of dividend payments, as declared: Class of Stock Dividend Declared Record Date Payment Date Common Stock $0.375 May 1, 1995 May 15, 1995 Preferred Stock 4.50% $1.125 May 15, 1995 June 1, 1995 4.50%, Series of 1955 1.125 May 15, 1995 June 1, 1995 4.65%, Series of 1964 1.1625 May 15, 1995 June 1, 1995 4.75%, Series of 1965 1.1875 May 15, 1995 June 1, 1995 Dividends were also declared on preferred stock held in the company's employee stock ownership plan. The company stated that a dividend reinvestment plan Dividend Reinvestment Plan (DRP) Plan which provides for automatic reinvestment of shareholder dividends in more shares of a company's stock, often without commissions. Some plans provide for the purchase of additional shares at a discount to market price. is available which allows dividends on its common and preferred stock to be reinvested in additional shares of common stock at market price without commission costs. Central Louisiana Electric Co. operates solely in Louisiana as an electric utility serving approximately 218,000 customers in 23 of the state's parishes. CONTACT: CLECO CLECO Central Louisiana Electric Co-Op David M. Eppler, Michael P. Prudhomme or Rodney J. Hamilton 318/484-7400 |
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