Citizens Utilities declares 1.6% stock dividend for 1996 fourth quarter.STAMFORD Stamford, town, England
Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , Conn.--(BUSINESS WIRE)--Nov. 19, 1996--
52nd record year of increased dividends
Citizens Utilities' Board of Directors today declared a 1.6% stock dividend on the company's outstanding Series A and Series B common stock, payable December December: see month. 31 to shareholders of record on December 2. These stock dividends are nontaxable on receipt.
Leonard Tow, chairman, stated that the stock dividend has a cash equivalent of 18 1/2 cents, representing an increase of 6% over the 1995 fourth-quarter adjusted stock dividend cash equivalent of 17 1/2 cents. Mr. Tow noted that stock dividends for 1996 have a cash equivalent of 72 7/8 cents, which is 6% higher than the stock dividend cash equivalent of 68 7/8 cents for 1995 and which marks Citizens' 52nd consecutive year of increased dividends paid to shareholders. The stock dividend rates for 1996 totaled 6.4%, compared with 6.2% for 1995.
Mr. Tow also noted that based on Citizens' most recently reported financial results for the 1996 nine-month period, the company is well on its way to achieving its 52nd record year of increases in revenues, net income and earnings per share. "We believe," he said, "that barring circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact.
2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or beyond our control Citizens will not only achieve another record year but will do so at double-digit rates in line with analyst expectations."
Citizens Utilities (NYSE NYSE
See: New York Stock Exchange : CZNA, CZNB) is a full-service telecommunications company See telecom company. and utility company with natural gas, electric, water and wastewater treatment operations, serving 1.8 million customers in 20 states. Citizens has a significant investment in Centennial Cellular, a cellular telephone company, and owns Electric Lightwave, Inc., a competitive telecommunications company serving five major metropolitan areas in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River
Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century .
CONTACT: Citizens Utilities, Stamford
Arthur Dague, 203/329-5094