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WICOR ANNOUNCES RESULTS, RAISES DIVIDEND

 WICOR ANNOUNCES RESULTS, RAISES DIVIDEND
 MILWAUKEE, July 28 /PRNewswire/ -- The board of directors of WICOR,


Inc. (NYSE: WIC) voted today to increase the quarterly dividend on common stock from 37 cents to 38 cents per share. The new annual rate is $1.52.
 "The higher dividend reflects WICOR's excellent financial position and the strong prospects for both subsidiaries," said Stuart W. Tisdale, WICOR's chairman and chief executive officer. WICOR is the parent of Wisconsin Gas Company and Sta-Rite Industries, Inc.
 Dividends at the new rate are payable Aug. 31, 1992, to stockholders of record Aug. 10, 1992.
 Second-quarter earnings were up 71 percent over the same period last year. The quarter typically is a break-even or loss period for WICOR because Wisconsin Gas Company's revenues decline as the heating season ends. However, Tisdale said second-quarter weather that was significantly colder than in 1991 helped increase gas sales for the period last year. As a result, WICOR posted a second-quarter loss of $500,000 or 3 cents per share, compared with a loss of $1.7 million or 12 cents per share last year. Quarterly operating revenues were $143.6 million vs. $129.3 million a year ago.
 Wisconsin Gas reported a second-quarter loss of $2.5 million, a 44-percent gain over last year's $4.4 million loss for the period. Tisdale attributed the improvement to weather that was 49 percent colder than in the second quarter of 1991 and to the gas company's continuing efforts to hold down operating expenses. "Wisconsin Gas is positioned for a strong year," Tisdale said. "All we need is normal weather."
 At Sta-Rite, operating revenues of $59.6 million for the quarter were nearly level with the $60 million reported for the same period last year. Second-quarter earnings of $2 million were down from $2.7 million for the quarter last year. Tisdale said that though the economy is still soft in certain sectors, particularly Australia and Canada, some of Sta-Rite's markets are showing signs of recovery. The lower earnings resulted from a less favorable product mix and slightly higher taxes.
 "Sta-Rite has been holding its own despite the weak economy," Tisdale said. "We're continuing to strengthen our position by reducing costs and improving cash flow. This will help Sta-Rite's earnings as the economy recovers."
 WICOR is a Milwaukee-based holding company. Its primary subsidiaries are Wisconsin Gas Company, the state's largest distributor of natural gas, and Sta-Rite Industries, a leading manufacturer of pumps and water processing equipment for markets throughout the world.
 WICOR, INC. AND SUBSIDIARIES
 Unaudited Quarterly Results
 (Figures in millions except for per-share amounts)
 QUARTER ENDED YEAR-TO-DATE
 JUNE 30 JUNE 30
 Operating Revenues 1992 1991 1992 1991
 Wisconsin Gas Co. $ 83.7 $ 68.9 $ 267.2 $ 262.0
 Sta-Rite Industries, Inc. 59.6 60.0 109.1 112.5
 Other 0.3 0.4 0.7 0.9
 WICOR $ 143.6 $ 129.3 $ 377.0 $ 375.4
 Net Income 1992 1991 1992 1991
 Wisconsin Gas Co. $ (2.5) $ (4.4) $ 14.0 $ 13.9
 Sta-Rite Industries, Inc. 2.0 2.7 3.2 4.3
 Other 0.0 0.0 (0.3) 0.2
 WICOR $ (0.5) $ (1.7) $ 16.9 $ 18.4
 Average Shares Outstanding
 (thousands) 14,548 13,881 14,524 13,861
 WICOR Earnings per
 Common Share $ (0.03) $ (0.12) 1.16 1.33
 -0- 7/28/92
 /CONTACT: Kathleen S. Sieja (Media), 414-291-6950, or John P. Hoy (Analysts), 414-291-6568, both of WICOR/
 (WIC) CO: WICOR, Inc. ST: Wisconsin IN: UTI SU: ERN DIV


SB -- DE020 -- 4172 07/28/92 14:45 EDT
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Date:Jul 28, 1992
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