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GULF STATES UTILITIES DECLARES DIVIDENDS

 GULF STATES UTILITIES DECLARES DIVIDENDS
 BEAUMONT, Texas, May 6 /PRNewswire/ -- Gulf States Utilities Co.'s


(NYSE: GSU) board of directors today declared quarterly preferred stock dividends payable June 15 to shareholders of record May 18.
 The board action represents the first regular quarterly payment of preferred stock dividends since the last quarter of 1986, when financial conditions forced the company to eliminate both preferred and preference stock dividends. GSU paid the balance of the preferred stock dividend arrearage and the then-current dividend payment for the first quarter on March 15.
 In late April the GSU board declared preference stock dividend arrearages and those accrued through June 4 payable on June 4. These payments will remove the legal impediments for the board to consider resumption of common stock dividends when financial conditions permit, a company official said. Common stock dividends, which are not cumulative, were last paid in the second quarter of 1986.
 Nearly 2,200 institutions and individuals own the nearly 4.3 million shares of preferred stock outstanding.
 Gulf States serves more than 580,000 electric customers in a 28,000- square-mile area spanning the Gulf Coast between Houston and New Orleans.
 -0- 5/6/92
 /CONTACT: Susan H. Gilley of Gulf States Utilities, 409-839-2846/
 (GSU) CO: Gulf States Utilities Co. ST: Texas IN: UTI SU: DIV


PS -- NY088 -- 7277 05/06/92 16:38 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:227
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