ENSERCH DETERMINES TAXABILITY OF 1991 DIVIDENDS
ENSERCH DETERMINES TAXABILITY OF 1991 DIVIDENDS DALLAS, Jan. 21 /PRNewswire/ -- ENSERCH Corporation (NYSE: ENS) has
determined that all cash dividends paid to ENSERCH common shareholders in 1991 are to be classified as nontaxable return-of-capital distributions. All of the 1991 cash dividends paid to preferred shareholders are taxable as ordinary dividends.
Shareholders of ENSERCH common stock must reduce the tax basis per share by the amount of all dividends paid to them by ENSERCH in 1991. This determination by ENSERCH is subject to final approval by the Internal Revenue Service. ENSERCH Corporation is a Dallas-based diversified energy, engineering and construction company. -0- 1/21/92 /NOTE TO EDITOR: Correct style is ENSERCH Corporation. /CONTACT: Benjamin A. Brown, vice president-financial relations, 214-670-2204 or Crystal C. Bell, 214-670-2528, both of ENSERCH Corporation./ (ENS) CO: ENSERCH Corporation ST: Texas IN: OIL SU: DIV SM -- NY071 -- 1846 01/21/92 12:33 EST
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|Date:||Jan 21, 1992|
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