FLORIDA PROGRESS ANNOUNCES INCREASED QUARTERLY DIVIDEND
ST. PETERSBURG, Fla., Nov. 18 /PRNewswire/ -- The board of directors of Florida Progress Corporation (NYSE: FPC) today declared a quarterly cash dividend of 49 1/2 cents per share on the company's outstanding common stock, announced David R. Kuzma, senior vice president and chief financial officer. The board's action increases the annual dividend rate by four cents per share, raising the annual dividend to $1.98 per share. This represents a dividend growth of 2.1 percent. The dividend is payable on Dec. 20, 1993 to shareholders of record at the close of business Dec. 6, 1993. Today's decision marks the 41st. consecutive year that Florida Progress has increased dividends paid per share -- a track record ranking in the top ten of the more than 2,000 companies listed on the New York Stock Exchange. Florida Progress is a diversified utility holding company with assets of more than $5.5 billion. Its principal subsidiary is St. Petersburg-based
Florida Power Corporation, the state's second-largest electric utility. Diversified operations include coal mining and transportation, life insurance, real estate, and lending and leasing.
-0- 11/18/93 /CONTACT: Sally Everett of Florida Progress Corp., 813-824-6440/ (FPC)
CO: Florida Progress Corporation ST: Florida IN: UTI SU: DIV
RK-SB -- FL011 -- 5977 11/18/93 11:22 EST