Printer Friendly

FLORIDA PROGRESS CORPORATION RELEASES 1992 ANNUAL REPORT TO SHAREHOLDERS

 ST. PETERSBURG, Fla., Feb. 26 PRNewswire/ -- Florida Progress Corporation (NYSE: FPC) today released its 1992 Annual Report to Shareholders. The report takes a special look at electric utility stocks and why these investments have been popular with stock market investors, particularly in 1992. The report also discusses whatdedicated its 19 report to the people who invest in the company's common stock. The report's theme, "Investing in Progress," recognizes the importance of Florida Progress shareholders and a few of them are profiled in the report. Last year, the company added several thousand new shareholders and many more joined the Progress Plus Stock Plan. Established in February 1992, Progress Plus allows Florida residents to buy Florida Progress stock directly from the company.
 The company's shareholders invested $137.6 million in new shares of Florida Progress common stock in 1992. This helped the company continue its strategy to strengthen the operations and financial condition of its electric utility subsidiary. Nearly all new equity capital was invested in St. Petersburg-based Florida Power Corporation.
 Florida Progress will be distributing approximately 140,000 copies of its new annual report to company shareholders, institutional investors, employees, security analysts and various members of the financial community. Florida Progress shareholders own more than 87 million shares of common stock.
 The recycled paper on which the report is printed contains something highly unusual. More than 10,000 pounds of the company's own office wastepaper were used in producing the paper for this report. The wastepaper was collected from recycling programs at Florida Progress and Florida Power.
 Along with the annual report, the company's proxy statement also was mailed today to Florida Progress shareholders. It contains management's five nominees for election to the board of directors. Four of the nominees are current directors who are up for re-election to the board, including Florida Progress Chairman Jack B. Critchfield. The fifth nominee is a new board candidate. Paul R. Verkuil is being nominated to replace Clarence W. (Mac) McKee Jr., who is retiring in April. Verkuil, 53, is president and chief executive officer of the American Automobile Association (AAA), headquartered in Heathrow, Fla. The not-for-profit association has 140 motor clubs and serves about 34 million members in the United States and Canada.
 Florida Progress' 12-member board is made up of three classes of directors, with each class serving staggered terms of three years.
 Florida Progress announced its Annual Meeting of Shareholders will be held Thursday, April 15, 1993 at the St. Petersburg Hilton and Towers, 333 First Street South in downtown St. Petersburg.
 Florida Progress is a diversified utility holding company with assets of $5 billion. Its principal company 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- 2/26/93
 /CONTACT: Sally Everett of Florida Progress Corporation, 813-824-6440/
 (FPC)


CO: Florida Progress Corporation ST: Florida IN: UTI SU:

JB-AW -- FL006 -- 0917 02/26/93 14:18 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 26, 1993
Words:494
Previous Article:DENNY McLAIN TO PITCH IN WITH AUTOMOTIVE ENGINEERS FOR CHILDREN'S HOSPITAL
Next Article:THREE MBE/WBE FIRMS CHOSEN TO PROVIDE CONSTRUCTION MANAGEMENT SERVICES FOR THE MTA
Topics:


Related Articles
FLORIDA PROGRESS ANNOUNCES QUARTERLY DIVIDEND
FLORIDA PROGRESS CORPORATION RELEASES 1991 ANNUAL REPORT TO SHAREHOLDERS
NUI CORPORATION HOLDS ANNUAL SHAREHOLDERS' MEETING
FLORIDA PROGRESS DECLARES QUARTERLY DIVIDEND
FLORIDA PROGRESS CORPORATION REPORTS SECOND QUARTER EARNINGS
FLORIDA PROGRESS CORPORATION INCREASES QUARTERLY DIVIDEND
FLORIDA PROGRESS CORPORATION ANNOUNCES INCREASED EARNINGS OF 2.1 PERCENT FOR 1992
NUI CORPORATION HOLDS ANNUAL MEETING; COMMEMORATION OF 100 YEARS OF DIVIDEND PAYMENTS; OFFER STOCK PURCHASE PLAN TO N.J. & FLA. RESIDENTS
FLORIDA PROGRESS CORPORATION RELEASES ITS 1993 ANNUAL REPORT
Florida Progress Corporation Releases 1996 Annual Report

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters