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ATLANTA GAS LIGHT COMPANY DECLARES QUARTERLY DIVIDEND OF 52 CENTS

 ATLANTA, Feb. 5 /PRNewswire/ -- The board of directors of Atlanta Gas Light Company (NYSE: ATG) today declared a quarterly common stock dividend of 52 cents per share on its common stock and dividends on its preferred stock as prescribed in each issue.
 Payment will be made on March 1 to shareholders of record on Feb. 19.
 The dividend 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 March dividend will be the 181st consecutive dividend paid.
 The board also released unaudited results for the quarter ended Dec. 31, 1992, the first quarter of its 1993 fiscal year. These results reflected operating revenues of $334.1 million, net income of $22.1 million and earnings per share of common stock of $.87. Comparable results for the quarter ended Dec. 31, 1991, included operating revenues of $300.2 million, net income of $21.3 million and earnings per share of common stock of $.88.
 For the 12 months ended Dec. 31, 1992, operating revenues were $1.0 billion compared with $968.7 million for the same period in 1991. Net income and earnings per share of common stock for the 12-month period ended Dec. 31, 1992, were $56.2 million and $2.25 respectively, compared with $46.7 million and $1.93 for the corresponding period in 1991.
 The 1992 increases in operating revenues for the three and 12 months ended Dec. 31, 1992, were due primarily to increased volumes of gas sold as a result of weather that was 14 percent and 11 percent colder than the prior year, respectively. The 1992 increases in net income for the three and 12 months ended Dec. 31, 1992, and the 1992 increase in earnings per share for the 12 months ended Dec. 31, 1992, were due primarily to (1) rate increases granted by the Georgia Public Service Commission and the Tennessee Public Service Commission, (2) growth in number of customers and (3) decreased interest charges. These increases were partly offset by (1) increased operating expenses and (2) a decrease in other income. The slight decrease in earnings per share for the three months ended Dec. 31, 1992, was due primarily to an increase in the average number of common shares outstanding from 23.9 million in 1991 to 24.4 million in 1992. Earnings per share for the 12 months ended Dec. 31, 1992, was also affected by an increase in the average number of shares outstanding.
 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 1.2 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, also serves more than 40,000 customers in Chattanooga and Cleveland, Tenn., and the surrounding areas.
 ATLANTA GAS LIGHT COMPANY AND SUBSIDIARY COMPANIES
 CONSOLIDATED FINANCIAL INFORMATION
 Millions of Dollars, Except Per Share Data
 3 mos. ended 12 mos. ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Operating revenues $334.1 $300.2 $1,028.5 $968.7
 Net income $ 22.1 $ 21.3 $ 56.2 $ 46.7
 Earnings applicable to
 common stock $ 21.2 $ 21.1 $ 54.5 $ 45.7
 Earnings per share of common
 stock $ .87 $ .88 $ 2.25 $ 1.93
 Avg. number of shares
 outstanding (thousands) 24.4 23.9 24.2 23.7
 -0- 2/5/93
 /CONTACT: Ross Willis of Atlanta Gas Light Company, 404-584-3769/
 (ATG)


CO: Atlanta Gas Light Company ST: Georgia IN: UTI SU: ERN DIV

BR-BN -- AT014 -- 3661 02/05/93 16:01 EST
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Publication:PR Newswire
Date:Feb 5, 1993
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