COOPER INDUSTRIES' BOARD RAISES COMMON DIVIDEND
COOPER INDUSTRIES' BOARD RAISES COMMON DIVIDEND HOUSTON, Feb. 19 /PRNewswire/ -- The board of directors of Cooper
Industries, Inc. (NYSE: CBE) today increased the quarterly dividend rate on the company's common stock to 31 cents from 29 cents, or to $1.24 on an annualized basis.
The first quarterly dividend on the common shares at the new rate is payable April 1, 1992. A quarterly dividend of 40 cents on each $1.60 Convertible Exchangeable Preferred share is also payable April 1. The record date for both common and preferred dividends is March 2, 1992. "The increase in the dividend rate reflects Cooper's commitment to raise common dividend payments as earnings increase," said Robert Cizik, chairman and president. Late in January, the company reported a seven percent gain in fully diluted share earnings for 1991, to $3.01 from $2.81 in 1990. The board also established March 2 as the record date for voting at the annual shareholders' meeting, to be held in Houston on April 28. Cooper Industries, with 1991 revenues of $6.2 billion, is a diversified, worldwide manufacturer of electrical products, electrical power equipment, tools and hardware, automotive products, and petroleum and industrial equipment. -0- 2/19/92 /CONTACT: Ellen H. Myers of Cooper Industries, 713-739-5423/ (CBE) CO: Cooper Industries, Inc. ST: Texas IN: OIL SU: DIV SH -- NY057 -- 0490 02/19/92 13:13 EST
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|Date:||Feb 19, 1992|
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