Citizens Utilities declares distribution payment to holders of 5% Convertible Preferred Securities of Citizens Utilities Trust.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)--December 9, 1996--Citizens Utilities declared today that a distribution on the 5% Equity Providing Preferred Income Convertible Securities ("EPPICS") of Citizens Utilities Trust will be paid on January January: see month. 31, 1997 to holders of record on December 19, 1996.
Citizens Utilities intends to fund the declared distribution with shares of its Common Stock Series A. Record holders who have opted to receive their distribution in shares of Citizens Utilities' Common Stock Series A are scheduled to receive such shares valued as of January 17, 1997, which will be the share transfer and valuation date. All other record holders will receive their distribution in cash at the rate of 62.5 cents per convertible preferred security.
Holders of EPPICS who wish to make a change in their election to receive stock or cash may do so during the annual election period, which for this year begins on December 23, 1996 and ends on January 7, 1997. To effect the change, a holder must submit, by January 7, an election form to the broker or nominee nominee n. 1) a person or entity who is requested or named to act for another, such as an agent or trustee. 2) a potential successor to another's rights under a contract. with whom the holder's account is held. Holders will receive election forms from their brokers or nominees on or about December 23. Election forms need to be submitted only if holders wish to make changes to their current election.
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
Arthur Dague, 203/329-5094