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GTE INCREASES QUARTERLY DIVIDEND BY 3.3 PERCENT AS ANNUAL RATE INCREASES FROM $1.82 TO $1.88 PER SHARE.

 STAMFORD, Conn., Aug. 5 /PRNewswire/ -- The GTE Corp. (NYSE: GTE) board of directors today increased the company's quarterly common stock dividend by 3.3 percent to 47 cents per share, from 45.5 cents per share. On an annualized basis, the dividend increases from $1.82 to $1.88 per share.
 The dividend is payable on Oct. 1, 1993, to shareholders of record as of Aug. 23, 1993.
 "This increase is consistent with our long-standing policy of maintaining the dividend payout ratio near the upper end of the range of peer companies," said GTE Chairman and Chief Executive Officer Charles R. Lee. "Moreover, the increase supports GTE's continuing objective to maximize shareholders' long-term total return as measured by share-price appreciation and dividends.
 "We are pleased that GTE's current performance and future prospects enable us to raise the dividend for the 39th time in the last 40 years," said Lee. "GTE remains well positioned for improved profitability and continued profitable growth in the exciting and rapidly growing telecommunications industry."
 Dividends Declared on Preferred Stocks
 Regular quarterly dividends also are declared as follows on the company's preferred stocks: 55 cents per share on the 4.40 percent preferred stock; 96.875 cents per share on the 7.75 percent preferred stock; 98.125 cents per share on the 7.85 percent preferred stock; 50 cents per share on the 4.00 percent convertible preferred stock; 54.5 cents per share on the 4.36 percent convertible preferred stock; 59.375 cents per share on the 4.75 percent convertible preferred stock; 62.5 cents per share on the 5.00 percent convertible preferred stock; 63.125 cents per share on the 5.05 percent convertible preferred stock; 66 cents per share on the 5.28 percent convertible preferred stock; 66.875 cents per share on the 5.35 percent convertible preferred stock; 68.75 cents per share on the 5.50 percent convertible preferred stock; 61.875 cents per share on the $2.475 no par preferred stock; and, 50 cents per share on the $2.00 convertible no par preferred stock. Each of the preferred dividends is payable on Oct. 1, 1993, to shareholders of record on Aug. 23, 1993.
 GTE is the fourth-largest publicly held telecommunications company in the world.
 -0- 8/5/93
 /CONTACT: Harvey W. Greisman, 203-965-2903, after 6 p.m., 203-226-7661, or Tony Hamilton, 203-965-2853, after 6 p.m., 203-327-2162, or in Washington call Julia Spicer, 202-463-5206, after 6 p.m., 202-797-0715, all for GTE/
 (GTE)


CO: GTE Corp. ST: Connecticut IN: TLS SU: DIV

PS -- NY038 -- 9847 08/05/93 11:38 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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