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TELEPHONE AND DATA SYSTEMS, INC. ANNOUNCES FOURTH QUARTER DIVIDEND FOR 1992

 CHICAGO, Dec. 2 ~PRNewswire~ -- The board of directors of Telephone and Data Systems, Inc. ("TDS") announced today that it has declared a fourth quarter dividend of $.08 per share. This represents a 6.7 percent increase from the fourth quarter 1991 dividend. Payment will be made on Dec. 29, 1992, to Common and Series A Common shareowners of record on Dec. 15, 1992.
 LeRoy T. Carlson Jr., president and CEO, stated, "This dividend reflects your company's excellent progress during 1992 as well as its financial strength. It also provides tangible evidence of the results of our commitment to providing high-quality telecommunications services to an increasingly sophisticated customer base."
 TDS Telecommunications Corp. ("TDS Telecom"), TDS's wholly owned telephone subsidiary, is growing steadily through acquisitions and by continuously improving service to its customers. TDS Telecom has added four telephone companies representing over 8,100 access lines through the twelve months ended Sept. 30, 1992. With the completion of four pending acquisitions, TDS Telecom will serve over 335,000 access lines in 29 states.
 United States Cellular Corp. ("USM"), TDS's 82.2 percent-owned cellular telephone subsidiary, is expanding both the markets and customers its serves. Since Sept. 30, 1991, USM has acquired 2.7 million population equivalents, and gained 49,300 customers. At the end of the third quarter, USM owned or had the right to acquire cellular telephone interest in 74 Metropolitan Statistical Areas and 114 Rural Service Areas representing 19.8 million population equivalents. At that date, USM served more than 134,500 customers in 87 consolidated markets.
 American Paging, Inc. ("API"), TDS's wholly owned paging subsidiary, is improving the quality, productivity and profitability of all of its messaging services. API served over 290,300 pagers through 25 systems at Sept. 30, 1992. This represents a 24.0 percent increase over the same period a year ago.
 TDS is a Chicago-based telecommunications company with established local telephone operations and developing cellular telephone and radio paging operations. TDS strives to build value for its shareholders by providing excellent telecommunications services in attractive, closely related segments of the telecommunications industry.
 -0- 12~2~92
 ~CONTACT: Murray L. Swanson, executive vice president of Telephone and Data Systems, Inc., 312-630-1900. Out-of-town media, call collect~
 (TDS)


CO: Telephone and Data Systems, Inc. ST: Illinois IN: TLS SU: DIV

TS -- NY025 -- 2843 12~02~92 11:23 EST
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Publication:PR Newswire
Date:Nov 30, 1992
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