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MINNESOTA POWER ANNOUNCES 22ND CONSECUTIVE DIVIDEND INCREASE

 MINNESOTA POWER ANNOUNCES 22ND CONSECUTIVE DIVIDEND INCREASE
 DULUTH, Minn., Jan. 22 /PRNewswire/ -- The Board of Directors of Minnesota Power (NYSE: MPL) today raised the quarterly dividend on common stock from 47.5 cents per share to 48.5 cents per share.
 The board's action marked the 22nd consecutive year in which the diversified Duluth-based power supplier has raised its cash dividend.
 The indicated annual dividend amounts to $1.94 per share, compared with $1.90 per share paid in 1991.
 There are some 27,200 shareholders owning approximately 32 million shares of Minnesota Power common stock. The regular quarterly dividend on common stock is payable March 1, 1992, to shareholders of record Feb. 14, 1992.
 Minnesota Power directors also declared regular dividends on outstanding shares of preferred stock. Preferred dividends are payable April 1, 1992, to shareholders of record March 16, 1992.
 Minnesota Power's diverse business interests include the manufacture of paper, coal mining, and water and wastewater services.
 -0- 1/22/92
 /CONTACT: Warren F. Hudelson of Minnesota Power, 218-723-3934/
 (MPL) CO: Minnesota Power and Light ST: Minnesota IN: OIL SU: DIV


AL -- MN011 -- 2316 01/22/92 12:51 EST
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Publication:PR Newswire
Date:Jan 22, 1992
Words:192
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