ENTERGY CORPORATION NAMES PALMER TO BOARD, DECLARES QUARTERLY DIVIDEND
ENTERGY CORPORATION NAMES PALMER TO BOARD, DECLARES QUARTERLY DIVIDEND NEW ORLEANS, July 31 /PRNewswire/ -- Entergy Corporation's
(NYSE: ETR) board of directors today elected John N. Palmer to a seat on
Palmer, a director of Entergy's Mississippi Power & Light Company
subsidiary since 1987, is chairman and CEO of Mobile Telecommunication
Technologies Corp. (Mtel), a Jackson, Miss.-based telecommunications
Entergy's board of directors today also voted to declare a regular
quarterly dividend of 35 cents per common share. The dividend is
payable on Sept. 1 to shareholders of record on Aug. 14.
The board also extended the authorization to repurchase Entergy
common stock through Oct. 31, 1992 and authorized that $300 million be
made available for that purchase, said Gerald D. McInvale, Entergy's
chief financial officer.
Stock repurchases, McInvale said, are made from time to time on the
basis of market conditions and the Entergy board's authorization. There
is no obligation or assurance that any repurchase will be made. As of
today, Entergy has repurchased 28.5 million shares at a cost of $619.5
million. Approximately 176.1 million common shares remain outstanding.
Palmer, 58, founded Mobile Communications Corporation of America
(MCCA) in 1973 and later sold portions of the company to BellSouth, Inc.
Mtel, which was formed from businesses retained from the MCCA sale,
operates a nationwide paging and voice messaging system, an air-to-
ground and marine telecommunication system, and a microwave relay
system. Mtel's 1991 revenues were $90 million.
A past president of the Cellular Telecommunications Industry
Association, Palmer is also a past president and current director of the
University of Mississippi Foundation. He is also a member of the
President's Export Council advising the Secretary of Commerce, and has
previously served as an advisor to the Office of the U.S. Trade
A graduate of the University of Mississippi, Palmer has also served
as a director of the Jackson Chamber of Commerce and the Jackson
-0- 7/31/92 /CONTACT: Media: Patrick Sweeney, 504-569-4160, or Investors:
Richard Strawn, 504-569-4360, both of Entergy/
CO: Entergy Corporation
SU: PER DIV
BR-TG -- AT010 -- 5633 07/31/92 13:20 EDT
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|Date:||Jul 31, 1992|
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