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ATLANTA GAS LIGHT COMPANY DECLARES QUARTERLY DIVIDEND OF 52 CENTS

 ATLANTA GAS LIGHT COMPANY
 DECLARES QUARTERLY DIVIDEND OF 52 CENTS
 ATLANTA, May 1 /PRNewswire/ -- The board of directors of Atlanta Gas Light Company (NYSE: ATG) today declared a quarterly common stock dividend of 52 cents per share, an increase of 1 cent over the previous quarter, and dividends on its preferred stock as prescribed in each issue.
 Payment will be made on June 1 to shareholders of record on May 22.
 The dividend on the common stock equates to $2.08 on an annualized basis. The company has paid a dividend every quarter since it again became a publicly held utility in 1947. The June dividend will be the 178th consecutive dividend paid.
 The board also declared unaudited results for the quarter ended March 31, the second quarter of its 1992 fiscal year. These results reflected operating revenues of $395.3 million compared with $379.0 million for the same period in 1991. Net income and earnings per share of common stock for the quarter ended March 31 were $43.1 million and $1.79 respectively, compared with $34.7 million and $1.47 for the corresponding period in 1991.
 The 1992 increase in operating revenues, net income and earnings per share were due primarily to increased volumes of gas sold and transported. The increased volumes were due primarily to increased gas usage per customer. An increase in the number of customers served and rate increases granted by the Georgia Public Service Commission (Georgia Commission) and the Tennessee Public Service Commission (Tennessee Commission) also contributed to these increases. The increases in net income and earnings per share were partly offset by (1) increased operating expenses and (2) increased interest charges. Earnings per share were also affected by an increase in the average number of shares outstanding from 23.4 million in 1991 to 24.0 million in 1992.
 The improved results for the three months ended March 31 were also reflected in the results for the six and 12 months ended March 31. Operating revenues were $695.5 million and $985.0 million; net income was $64.3 million and $58.7 million; and earnings per share of common stock were $2.67 and $2.27, respectively. Comparable results for the six and 12 months ended March 31, 1991, included operating revenues of $674.3 million and $965.3 million, net income of $58.7 million and $46.8 million and earnings per share of common stock of $2.53 and $2.02, respectively.
 The board also elected Kenneth D. Lewis to the board of directors. Lewis is president of General Banking for NationsBank.
 Atlanta Gas Light Company is the largest natural gas distribution company in the Southeast. The company, which also operates under the trade names Georgia Natural Gas Company and Savannah Gas Company, serves more than 1 million residential, commercial and industrial customers in 227 Georgia communities including metro Atlanta, Athens, Augusta, Brunswick, Macon, Rome and Savannah. Chattanooga Gas Company, a wholly owned subsidiary, serves more than 35,000 customers in Chattanooga and Cleveland, Tenn., and the surrounding areas.
 ATLANTA GAS LIGHT COMPANY AND SUBSIDIARY COMPANIES
 CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
 MARCH 1992
 Millions of Dollars
 3 mos. ended 3/31/92 3/31/91
 Operating revenues $395.3 $379.0
 Net income $ 43.1 $ 34.7
 Earnings applicable to common stock $ 42.8 $ 34.4
 Earnings per share of common stock $ 1.79 $ 1.47
 Avg. number of shares outst. (millions) 24.0 23.4
 6 mos. ended 3/31/92 3/31/91
 Operating revenues $695.5 $674.3
 Net income $ 64.3 $ 58.7
 Earnings applicable to common stock $ 63.8 $ 58.1
 Earnings per share of common stock $ 2.67 $ 2.53
 Avg. number of shares outst. (millions) 23.9 23.0
 12 mos. ended 3/31/92 3/31/91
 Operating revenues $985.0 $965.3
 Net income $ 55.1 $ 46.8
 Earnings applicable to common stock $ 54.0 $ 45.5
 Earnings per share of common stock $ 2.27 $ 2.02
 Avg. number of shares outst. (millions) 23.8 22.5
 -0- 5/1/92
 /CONTACT: Ross Willis of Atlanta Gas Light, 404-584-3769/
 (ATG) CO: Atlanta Gas Light Company ST: Georgia IN: UTI SU: DIV ERN PER


BR-BN -- AT008 -- 5592 05/01/92 16:02 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:712
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