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DUKE POWER TO REDEEM SERIES N PREFERRED STOCK

 DUKE POWER TO REDEEM SERIES N PREFERRED STOCK
 CHARLOTTE, N.C., May 12 /PRNewswire/ -- Duke Power Co. (NYSE: DUK)


said today that on June 16 the company will redeem all shares of its Cumulative Preferred Stock, 8.84 percent Series N, to be outstanding after the current sinking fund requirements have been met -- at the redemption price of $103 per share.
 The company will satisfy the sinking fund requirement of this preferred stock through a call of 16,250 shares at its par value of $100 per share. Further, the company will also exercise its option to call an additional 16,250 shares at par value.
 A redemption notice for the issue will be mailed to shareholders on May 12. The company will act as redemption agent.
 -0- 5/12/92
 /CONTACT: Joe Maher, 704-382-8323 (office) or 704-536-6079 (home), or Chris Carter, 704-373-5290, both of Duke Power Co./
 (DUK) CO: Duke Power Co. ST: North Carolina IN: UTI SU:


JZ -- CH002 -- 9005 05/12/92 09:53 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 12, 1992
Words:168
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