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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, Aug. 7 /PRNewswire/ -- The board of directors of Atlanta Gas Light Company (NYSE: ATG) today declared a quarterly common stock dividend of 52 cents per share and dividends on its preferred stock as prescribed in each issue.
 Payment will be made on Sept. 1 to shareholders of record on Aug. 21.
 The dividend declared on the common stock is the same as that for the previous quarter and 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 September dividend will be the 179th consecutive dividend paid.
 The board also released unaudited results for the quarter ended June 30, the third quarter of the company's 1992 fiscal year. Operating revenues increased to $176.3 million for the quarter compared with $159.3 million for the same quarter in 1991 due primarily to increased gas usage by all classes of customers. A net loss of $1.6 million or $.08 per share of common stock was reported compared with a net loss of $2.4 million or $.11 per share of common stock for the same quarter in 1991. Due to the seasonality of its business, the company expects to report a small operating loss for the third quarter each year.
 For the nine months ended June 30, operating revenues were $871.8 million; net income and earnings per share of common stock were $62.7 million and $2.58 respectively, compared with operating revenues of $833.6 million, and net income and earnings per share of common stock of $56.3 million and $2.39 respectively, for the corresponding period in 1991.
 For the 12 months ended June 30, operating revenues, net income and earnings per share were $1.0 billion, $55.9 million and $2.29 respectively, compared with $966.8 million, $46.5 million and $1.97 respectively, for the corresponding period in 1991.
 The increases in operating revenues for the nine- and 12-month periods were due primarily to increased volumes of gas sold and transported as a result of (1) weather that was 12 percent colder than the same periods during 1991, (2) increased gas usage by all classes of customers, (3) rate increases granted by the Georgia Public Service Commission (Georgia Commission) and the Tennessee Public Service Commission (Tennessee Commission) and (4) growth in the number of customers.
 The increases in net income and earnings per share for the nine- and 12-month periods were due primarily to (1) increased gas usage by all classes of customers, (2) rate increases granted by the Georgia and Tennessee commissions and (3) growth in the number of customers. An increase in other income also contributed to the increase for the 12- month period. As a result of the company's weather normalization adjustment riders, weather conditions experienced during the nine- and 12-month periods did not have a significant impact on the comparability of net income and earnings per share for the comparable periods.
 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 nearly 1.2 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)
 JUNE 1992
 Thousands of Dollars Except Per Share Data
 3 mos. ended 6/30/92 6/30/91
 Operating revenues $ 176,292 $ 159,321
 Net income (loss) $ (1,601) $ (2,402)
 Earnings (loss) applicable to
 common stock $ (1,861) $ (2,684)
 Earnings (loss) per share of
 common stock $ (.08) $ (.11)
 Avg. number of shares
 outstanding (thousands) 24,120 23,604
 9 mos. ended 6/30/92 6/30/91
 Operating revenues $ 871,764 $ 833,636
 Net income (loss) $ 62,738 $ 56,290
 Earnings (loss) applicable to
 common stock $ 61,942 $ 55,404
 Earnings (loss) per share of
 common stock $ 2.58 $ 2.39
 Avg. number of shares
 outstanding (thousands) 23,986 23,197
 12 mos. ended 6/30/92 6/30/91
 Operating revenues $ 1,001,992 $ 966,784
 Net income (loss) $ 55,870 $ 46,458
 Earnings (loss) applicable to
 common stock $ 54,792 $ 45,251
 Earnings (loss) per share of
 common stock $ 2.29 $ 1.97
 Avg. number of shares
 outstanding (thousands) 23,922 22,923
 -0- 8/7/92
 /CONTACT: Ross Willis of Atlanta Gas Light Company, 404-584-3769/
 (ATG) CO: Atlanta Gas Light Company ST: Georgia IN: UTI SU: ERN


EA-BN -- AT009 -- 8124 08/07/92 16:00 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
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