Printer Friendly

GPU BOARD INCREASES DIVIDEND

 GPU BOARD INCREASES DIVIDEND
 PARSIPPANY, N.J., April 2 /PRNewswire/ -- The board of directors of


General Public Utilities Corporation (NYSE: GPU) today increased the regular quarterly dividend on the company's common stock to 40 cents per share, an increase of 6.7 percent.
 The increased dividend is payable May 27, 1992, to shareholders of record April 24.
 "Although the sluggish economy is likely to have an adverse effect on the corporation's results this year," said James R. Leva, GPU president and chief executive officer, "today's increase reaffirms our ongoing commitment to provide our shareholders with an improving yield on their investment."
 "Our constant focus on cost-containment in all aspects of the business has enabled GPU and its subsidiaries to partially offset the brunt of this current economy on the company," Leva said. "We will not lose sight, however, of our responsibility to provide our customers with a high level of service."
 Since 1987, when GPU reinstated its common stock dividend, it has been increased six times. Last April, GPU raised the regular quarterly dividend by 15 percent and declared a 2-for-1 stock split.
 GPU is a registered electric utility holding company with three operating subsidiaries: Jersey Central Power and Light Company, Pennsylvania Electric Company, and Metropolitan Edison Company.
 The GPU System provides about 43 billion kilowatt-hours of electricity to more than 1.9 million customers in a service territory encompassing approximately half the land area of Pennsylvania and New Jersey.
 /delval/
 -0- 4/2/92
 /CONTACT: John T. Fidler of General Public Utilities, 201-263-6479/
 (GPU) CO: General Public Utilities Corporation ST: New Jersey, Pennsylvania IN: UTI SU: DIV


MK-JS -- PH022 -- 4330 04/02/92 11:22 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 2, 1992
Words:277
Previous Article:VANTAGE POINT ENERGY INC. ANNOUNCES RECORD 1991 FINANCIAL RESULTS
Next Article:INTEGRATED HEALTH SERVICES SUCCESSFULLY COMPLETES OFFERING OF 2,500,000 COMMON SHARES
Topics:


Related Articles
GPU BOARD DECLARES DIVIDEND
GENERAL PUBLIC UTILITIES BOARD DECLARES DIVIDEND
JERSEY CENTRAL POWER & LIGHT COMPANY $150 MILLION FIRST MORTGAGE BONDS RATED 'A-' BY DUFF & PHELPS
GPU BOARD DECLARES COMMON STOCK DIVIDEND
GPU BOARD INCREASES COMMON STOCK DIVIDEND
GPU BOARD DECLARES COMMON STOCK DIVIDEND
DCR ASSIGNS RATING OF 'BBB+' TO GPU INC.'S $300 MILLION SHELF REGISTRATION OF UNSECURED DEBENTURES
GPU Board Declares Common Stock Dividend
GPU Board Raises Common Stock Dividend
GPU Board Declares Common Stock Dividend

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters