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ATLANTIC ENERGY, INC. AUTHORIZES 2-FOR-1 SPLIT ON COMMON STOCK

 ATLANTIC ENERGY, INC. AUTHORIZES 2-FOR-1 SPLIT ON COMMON STOCK
 PLEASANTVILLE, N.J., March 12 /PRNewswire/ -- The board of directors of Atlantic Energy, Inc. (NYSE: ATE) today authorized a 2-for-1 split of its common stock, payable May 14, 1992, to holders of record April 16.
 J.G. Salomone, chief financial officer, stated that the stock split will be the first by Atlantic Energy since it was formed in 1987. Salomone said, "The split will bring the price of Atlantic Energy common stock more in line with the share prices of other similar electric utilities. Further, it will make it easier for new and existing shareholders to purchase shares of the company's common stock." The closing price of Atlantic Energy common stock on March 11, 1992, was $41.125 per share.
 No further authorization is required to effect the stock split. Atlantic Energy currently has 50 million shares of common stock, no par value, authorized, with approximately 25.6 million shares issued and outstanding. Following the stock split, 75 million shares of common stock would be authorized, with approximately 52 million shares issued and outstanding.
 Salomone said, "Certificates for shares issued as a result of the split will be mailed to shareholders of record on or around the payable date, May 14, 1992."
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 This information is not given in connection with any sale, offer for sale or a solicitation of an offer to buy any securities.
 /delval/
 -0- 3/12/92
 /CONTACT: J.G. Salomone, 609-645-4411, or Louis M. Walters, 609-645-4441, or Lois F. Jennings, 609-645-4247, or Robert K. Marshall, 609-645-4655, all of Atlantic Energy/
 (ATE) CO: Atlantic Energy, Inc. ST: New Jersey IN: UTI SU:


KA-MP -- PH006 -- 7689 03/12/92 10:17 EST
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Publication:PR Newswire
Date:Mar 12, 1992
Words:283
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