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CG&E RELEASES QUARTERLY EARNINGS, DECLARES DIVIDEND

 CINCINNATI, Oct. 20 /PRNewswire/ -- Earnings for The Cincinnati Gas & Electric Co. (NYSE: CIN) and subsidiary companies for the third quarter of 1993 were $53.2 million, or 61 cents per share, compared with $38.7 million, or 45 cents per share, during the third quarter of 1992.
 The increase is primarily due to higher electric sales volume reflecting hotter summer weather, retail rate increases, refinancing of first mortgage bonds and preferred stock in late 1992, and continued cost control efforts.
 CG&E's earnings for the 12 months ended Sept. 30, 1993, were $187.8 million, or $2.16 per share, compared with $164.4 million, or $1.93 per share, for the 12 months ended Sept. 30, 1992.
 At its meeting today, the CG&E board of directors declared a common dividend of 43 cents per share, payable on Nov. 15, 1993, to shareholders of record as of Nov. 1, 1993. This represents an increase in indicated annual dividend rate from $1.66 per share to $1.72 per share.
 Total electric sales for the third quarter of 1993 were up 12.0 percent over a year ago. For the 12 months ended Sept. 30, 1993, total electric sales increased 5.5 percent.
 Gas sold and transported by CG&E was up 4.4 percent in the third quarter of 1993 compared with the same period a year ago. For the twelve months ended Sept. 30, 1993, gas sold and transported was up 5.7 percent over the same period a year ago.
 CINCINNATI GAS & ELECTRIC CO.
 Third Quarter 1993 1992
 Revenues $408,638,000 $352,139,000
 Earnings on common shares $ 53,228,000 $ 38,691,000
 Earnings per share $0.61 $0.45
 Avg. shares outstanding 87,539,000 85,797,000
 Twelve Months Ended Sept. 30 1993 1992
 Revenues $1,689,990,000 $1,528,413,000
 Earnings on common shares $ 187,750,000 $ 164,369,000
 Earnings per share $2.16 $1.93
 Avg. shares outstanding 86,914,000 85,172,000
 -0- 10/20/93
 /CONTACT: Steve Brash, 513-287-2226 or (home) 513-231-6895, or (investors) Bill Sheafer, 513-287-3852, or Jim Mosley, 513-287-2367, all of The Cincinnati Gas & Electric Co./
 (CIN)


CO: The Cincinnati Gas & Electric Co. ST: Ohio IN: UTI SU: ERN DIV

TS -- NY066 -- 4621 10/20/93 13:08 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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