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GULF STATES UTILITIES ANNOUNCES QUARTERLY DIVIDEND

 GULF STATES UTILITIES ANNOUNCES QUARTERLY DIVIDEND
 BEAUMONT, Texas, July 30 /PRNewswire/ -- Gulf States Utilities Co.'s


(NYSE: GSU) board of directors today declared quarterly preferred stock dividends payable Sept. 15 to shareholders of record Aug. 17.
 The board action marks the second consecutive regular quarterly payment of preferred dividends since the preferred stock dividend arrearage was paid earlier this year. Financial conditions had forced the company to eliminate both preferred and preference stock dividends from 1986 until September 1991.
 Dividends will be paid to nearly 2,200 institutions and individuals who own the more than 4 million shares of preferred stock outstanding.
 GSU will also call for a Sept. 15 redemption of 24,000 shares of adjustable rate preferred stock, Series A, for $2.4 million and 28,000 shares of $8.64 dividend preferred stock for $2.8 million from shareholders of record Aug. 5. Although half of the amounts would satisfy Sept. 15 sinking fund obligations, GSU has chosen to exercise a double-up option in calling the other half.
 Gulf States serves more than 583,000 electric customers in a 28,000- square-mile area spanning the Gulf Coast between Houston and New Orleans.
 -0- 7/30/92
 /CONTACT: Susan H. Gilley of Gulf States Utilities Company, 409-839-2846/
 (GSU) CO: Gulf States Utilities Co. ST: Texas IN: UTI SU: DIV


PS -- NY057 -- 5085 07/30/92 12:08 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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